Flotek Industries (NYSE:FTK) Stock Rating Upgraded by Singular Research

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

Flotek Industries Trading Down 1.1 %

Shares of NYSE:FTK opened at $9.40 on Monday. Flotek Industries has a 52 week low of $3.13 and a 52 week high of $10.35. The company’s 50 day moving average is $8.59 and its two-hundred day moving average is $7.24. The company has a market cap of $280.26 million, a PE ratio of 36.14 and a beta of 1.21.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Monday, March 10th. The oil and gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. The firm had revenue of $50.76 million for the quarter, compared to analyst estimates of $50.08 million. During the same period last year, the business earned $0.07 EPS. As a group, equities research analysts expect that Flotek Industries will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Flotek Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Flotek Industries by 108.1% during the 3rd quarter. Geode Capital Management LLC now owns 297,483 shares of the oil and gas company’s stock worth $1,483,000 after acquiring an additional 154,497 shares in the last quarter. Barclays PLC purchased a new position in Flotek Industries during the 3rd quarter worth $66,000. Truist Financial Corp grew its position in Flotek Industries by 3.6% during the 4th quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 8,500 shares during the last quarter. PDT Partners LLC purchased a new position in Flotek Industries during the 3rd quarter worth $86,000. Finally, Acuitas Investments LLC purchased a new position in Flotek Industries during the 4th quarter worth $2,586,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

About Flotek Industries

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).