Roth Capital Upgrades Flotek Industries (NYSE:FTK) to Strong-Buy

Roth Capital upgraded shares of Flotek Industries (NYSE:FTK) to a strong-buy rating in a research note published on Thursday, Zacks.com reports.

FTK has been the topic of a number of other reports. Roth Mkm initiated coverage on shares of Flotek Industries in a research note on Thursday. They set a buy rating and a $6.50 price target on the stock. Alliance Global Partners initiated coverage on shares of Flotek Industries in a research note on Monday, April 29th. They set a buy rating and a $7.00 price target on the stock. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Flotek Industries has a consensus rating of Buy and a consensus target price of $6.75.

Flotek Industries Stock Performance

Shares of Flotek Industries stock opened at $4.51 on Thursday. The company has a market cap of $133.77 million, a P/E ratio of 112.72 and a beta of 1.08. Flotek Industries has a one year low of $2.64 and a one year high of $5.70. The firm has a fifty day moving average of $4.49 and a two-hundred day moving average of $3.73.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported $0.05 EPS for the quarter. The company had revenue of $40.37 million during the quarter. Flotek Industries had a net margin of 2.73% and a return on equity of 1.77%.

Hedge Funds Weigh In On Flotek Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Flotek Industries by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 39,695 shares during the period. Masters Capital Management LLC grew its stake in Flotek Industries by 3.8% in the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock valued at $1,870,000 after acquiring an additional 18,524 shares during the last quarter. Segment Wealth Management LLC acquired a new stake in Flotek Industries in the 4th quarter valued at about $241,000. Sanders Morris Harris LLC acquired a new stake in Flotek Industries in the 1st quarter valued at about $223,000. Finally, Pingora Partners LLC acquired a new stake in Flotek Industries in the 4th quarter valued at about $46,000. 10.90% of the stock is owned by institutional investors and hedge funds.

Flotek Industries Company Profile

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).