Flotek Industries, Inc. (NYSE:FTK) Receives Consensus Recommendation of "Buy" from Analysts

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) has earned an average rating of "Buy" from the four ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $14.33.

A number of analysts have recently commented on FTK shares. Alliance Global Partners assumed coverage on Flotek Industries in a research report on Thursday, June 12th. They issued a "buy" rating and a $19.00 price objective for the company. Northland Securities started coverage on Flotek Industries in a research report on Tuesday. They issued a "market perform" rating and a $16.00 target price on the stock. Wall Street Zen cut Flotek Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Singular Research upgraded Flotek Industries to a "moderate buy" rating in a report on Monday, March 17th.

Insider Buying and Selling

In other Flotek Industries news, Director Matthew Wilks purchased 103,514 shares of the stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $12.24 per share, for a total transaction of $1,267,011.36. Following the acquisition, the director now owns 144,350 shares in the company, valued at $1,766,844. This trade represents a 253.49% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders acquired 149,766 shares of company stock worth $1,841,758. Company insiders own 3.02% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FTK. Tower Research Capital LLC TRC acquired a new position in Flotek Industries during the fourth quarter worth $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Flotek Industries during the 4th quarter valued at about $57,000. Kathmere Capital Management LLC acquired a new position in Flotek Industries in the 1st quarter valued at about $85,000. Victory Capital Management Inc. acquired a new stake in shares of Flotek Industries during the first quarter worth about $96,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Flotek Industries in the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 10.90% of the company's stock.

Flotek Industries Stock Down 4.8%

Shares of Flotek Industries stock traded down $0.77 on Tuesday, reaching $15.26. 100,221 shares of the stock were exchanged, compared to its average volume of 218,001. Flotek Industries has a twelve month low of $3.79 and a twelve month high of $16.87. The business has a 50 day moving average price of $11.38 and a two-hundred day moving average price of $9.49. The firm has a market capitalization of $455.39 million, a price-to-earnings ratio of 58.58 and a beta of 1.39.

Flotek Industries (NYSE:FTK - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.11. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. The firm had revenue of $55.36 million for the quarter, compared to analyst estimates of $44.50 million. Research analysts forecast that Flotek Industries will post 0.29 EPS for the current year.

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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