Roth Mkm Issues Positive Forecast for Flotek Industries (NYSE:FTK) Stock Price

Flotek Industries (NYSE:FTK) had its price target boosted by Roth Mkm from $6.50 to $8.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

Separately, Roth Capital raised shares of Flotek Industries to a “strong-buy” rating in a research report on Thursday, July 25th.

Flotek Industries Price Performance

FTK opened at $6.97 on Thursday. The firm has a 50 day simple moving average of $4.94 and a 200 day simple moving average of $4.49. The company has a market cap of $207.78 million, a price-to-earnings ratio of 26.81 and a beta of 1.04. Flotek Industries has a fifty-two week low of $2.64 and a fifty-two week high of $7.24.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Monday, November 4th. The oil and gas company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The business had revenue of $49.74 million during the quarter, compared to the consensus estimate of $50.40 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. As a group, analysts expect that Flotek Industries will post 0.27 EPS for the current year.

Institutional Investors Weigh In On Flotek Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in FTK. Sanders Morris Harris LLC acquired a new position in Flotek Industries during the 3rd quarter worth approximately $137,000. Masters Capital Management LLC lifted its position in shares of Flotek Industries by 3.8% in the first quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after purchasing an additional 18,524 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Flotek Industries by 7.9% during the first 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 last quarter. 10.90% of the stock is currently 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).