Flotek Industries' (FTK) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Flotek Industries (FTK) has had its "hold (c)" rating reaffirmed by Weiss Ratings, while Northland Capital Markets and Wall Street Zen upgraded their ratings to "strong buy" and "buy", respectively.
• The company reported strong quarterly earnings, posting $0.16 EPS and exceeding analyst expectations, alongside revenue of $58.35 million for the quarter.
• Insider selling has been noted, with CEO Ryan Gillis Ezell and CFO James Bond Clement selling significant shares and reducing their ownership stakes by over 32% and 35%, respectively.

Flotek Industries (NYSE:FTK - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also weighed in on the company. Northland Capmk upgraded Flotek Industries from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Flotek Industries from a "hold" rating to a "buy" rating in a research note on Monday. Northland Securities upgraded Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 target price on the stock in a research report on Wednesday, August 6th. Finally, Alliance Global Partners started coverage on Flotek Industries in a research report on Thursday, June 12th. They issued a "buy" rating and a $19.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $14.33.

Flotek Industries Price Performance

Shares of FTK stock opened at $16.37 on Wednesday. Flotek Industries has a fifty-two week low of $4.70 and a fifty-two week high of $17.92. The firm has a market capitalization of $488.78 million, a price-to-earnings ratio of 37.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.36 and a current ratio of 1.59. The stock's 50-day simple moving average is $12.81 and its 200-day simple moving average is $12.06.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Flotek Industries had a return on equity of 17.67% and a net margin of 6.59%.The business had revenue of $58.35 million for the quarter, compared to analyst estimates of $52.40 million. Flotek Industries has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Flotek Industries will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flotek Industries news, CEO Ryan Gillis Ezell sold 87,187 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $12.26, for a total value of $1,068,912.62. Following the sale, the chief executive officer owned 156,855 shares in the company, valued at approximately $1,923,042.30. This represents a 35.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James Bond Clement sold 45,732 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $12.74, for a total value of $582,625.68. Following the completion of the sale, the chief financial officer owned 95,439 shares in the company, valued at approximately $1,215,892.86. This represents a 32.39% decrease in their position. The disclosure for this sale can be found here. 3.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flotek Industries

Several hedge funds have recently bought and sold shares of FTK. Police & Firemen s Retirement System of New Jersey purchased a new stake in Flotek Industries in the 2nd quarter worth approximately $50,000. Kathmere Capital Management LLC purchased a new stake in Flotek Industries in the 1st quarter worth approximately $85,000. Victory Capital Management Inc. purchased a new stake in Flotek Industries in the 1st quarter worth approximately $96,000. New York State Common Retirement Fund purchased a new stake in Flotek Industries in the 2nd quarter worth approximately $102,000. Finally, Bard Associates Inc. purchased a new stake in Flotek Industries in the 1st quarter worth approximately $111,000. Hedge funds and other institutional investors own 10.90% of the company's stock.

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).

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