Flotek Industries (NYSE:FTK) Raised to Hold at Northland Capmk

Flotek Industries (NYSE:FTK) was upgraded by research analysts at Northland Capmk to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts also recently commented on the stock. Singular Research upgraded shares of Flotek Industries to a “moderate buy” rating in a report on Monday, March 17th. Alliance Global Partners assumed coverage on shares of Flotek Industries in a research report on Thursday, June 12th. They issued a “buy” rating and a $19.00 target price for the company. Northland Securities assumed coverage on shares of Flotek Industries in a report on Tuesday. They set a “market perform” rating and a $16.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Flotek Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.33.

Flotek Industries Trading Down 3.5%

FTK stock opened at $14.38 on Tuesday. Flotek Industries has a 52 week low of $3.79 and a 52 week high of $16.87. The company has a market capitalization of $429.18 million, a price-to-earnings ratio of 31.95 and a beta of 1.39. The firm’s 50-day moving average is $11.68 and its two-hundred day moving average is $9.56.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Flotek Industries had a net margin of 7.09% and a return on equity of 12.76%. The company had revenue of $55.36 million for the quarter, compared to the consensus estimate of $44.50 million. On average, equities research analysts predict that Flotek Industries will post 0.29 earnings per share for the current year.

Insider Activity

In other news, Director Matthew Wilks bought 13,040 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $14.15 per share, for a total transaction of $184,516.00. Following the acquisition, the director now directly owns 157,390 shares of the company’s stock, valued at $2,227,068.50. The trade was a 9.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have acquired 149,766 shares of company stock worth $1,841,758. 3.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in Flotek Industries in the 1st quarter worth $332,000. Jane Street Group LLC raised its holdings in Flotek Industries by 88.5% in the 1st quarter. Jane Street Group LLC now owns 100,151 shares of the oil and gas company’s stock worth $834,000 after acquiring an additional 47,018 shares during the period. S Squared Technology LLC acquired a new stake in Flotek Industries in the 1st quarter worth $2,170,000. Goldman Sachs Group Inc. grew its position in Flotek Industries by 27.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 120,927 shares of the oil and gas company’s stock worth $1,007,000 after purchasing an additional 26,400 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Flotek Industries by 130.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 98,248 shares of the oil and gas company’s stock worth $818,000 after purchasing an additional 55,543 shares during the last quarter. Institutional investors own 10.90% of the company’s stock.

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).