Flotek Industries (NYSE:FTK) Rating Increased to Moderate Buy at Singular Research

Singular Research upgraded shares of Flotek Industries (NYSE:FTK) to a moderate buy rating in a research note issued to investors on Monday,Zacks.com reports.

Flotek Industries Price Performance

FTK opened at $9.40 on Monday. Flotek Industries has a 12 month low of $3.13 and a 12 month high of $10.35. The stock has a market cap of $280.26 million, a P/E ratio of 36.14 and a beta of 1.21. The stock’s 50 day moving average price is $8.59 and its 200 day moving average price is $7.24.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Monday, March 10th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. The business had revenue of $50.76 million during the quarter, compared to analyst estimates of $50.08 million. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. During the same period last year, the company posted $0.07 EPS. Equities analysts anticipate that Flotek Industries will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Flotek Industries

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new stake in shares of Flotek Industries during the 4th quarter worth $42,000. XTX Topco Ltd purchased a new stake in shares of Flotek Industries in the third quarter valued at $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Flotek Industries in the fourth quarter valued at $57,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flotek Industries in the third quarter valued at $60,000. Finally, Barclays PLC purchased a new stake in shares of Flotek Industries in the third quarter valued at $66,000. 10.90% of the stock is owned by institutional investors.

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).