Flotek Industries (NYSE:FTK) Coverage Initiated at Roth Mkm

Roth Mkm initiated coverage on shares of Flotek Industries (NYSE:FTK) in a note issued to investors on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $6.50 price target on the oil and gas company’s stock. Roth Mkm’s price objective would indicate a potential upside of 41.92% from the stock’s current price.

Separately, Alliance Global Partners started coverage on shares of Flotek Industries in a research report on Monday, April 29th. They set a “buy” rating and a $7.00 target price on the stock. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Flotek Industries currently has an average rating of “Buy” and a consensus price target of $6.75.

Flotek Industries Stock Up 1.6 %

Flotek Industries stock opened at $4.58 on Thursday. The stock has a market cap of $135.84 million, a P/E ratio of 114.47 and a beta of 1.08. Flotek Industries has a twelve month low of $2.64 and a twelve month high of $5.70. The company’s 50-day moving average price is $4.51 and its two-hundred day moving average price is $3.73.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Pingora Partners LLC acquired a new position in shares of Flotek Industries during the 4th quarter worth approximately $46,000. Sanders Morris Harris LLC acquired a new stake in shares of Flotek Industries during the 1st quarter worth approximately $223,000. Segment Wealth Management LLC acquired a new stake in shares of Flotek Industries during the 4th quarter worth approximately $241,000. Masters Capital Management LLC boosted its position in shares of Flotek Industries by 3.8% during the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after acquiring an additional 18,524 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position 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 acquiring an additional 39,695 shares in the last quarter. Institutional investors and hedge funds 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).