Flotek Industries (NYSE:FTK) Cut to Hold at Wall Street Zen

Key Points

• Flotek Industries has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, while other analysts continue to rate it positively with an average consensus target price of $14.33.
• The company's stock has dropped 5.3% recently, and as of Friday, it opened at $16.86, with a market cap of $503.35 million.
• Insider trading activity showed significant sell-offs, with CEO Ryan Gillis Ezell and CFO James Bond Clement reducing their stakes in the company by over 30% each.

Flotek Industries (NYSE:FTK - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

FTK has been the subject of several other research reports. Northland Securities raised Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price objective for the company in a report on Wednesday, August 6th. Northland Capmk raised Flotek Industries from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Flotek Industries in a report on Wednesday, October 8th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.33.

Flotek Industries Trading Down 5.3%

NYSE FTK opened at $16.86 on Friday. The company has a market cap of $503.35 million, a PE ratio of 38.31 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 1.36 and a debt-to-equity ratio of 0.55. Flotek Industries has a 12 month low of $4.85 and a 12 month high of $18.05. The stock has a 50 day moving average of $13.58 and a 200-day moving average of $12.71.

Flotek Industries (NYSE:FTK - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $58.35 million during the quarter, compared to the consensus estimate of $52.40 million. Flotek Industries had a return on equity of 17.67% and a net margin of 6.59%. Flotek Industries has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Flotek Industries will post 0.29 EPS for the current fiscal year.

Insider Transactions at Flotek Industries

In other Flotek Industries news, CEO Ryan Gillis Ezell sold 87,187 shares of Flotek Industries stock in a transaction dated 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 transaction, the chief executive officer owned 156,855 shares in the company, valued at $1,923,042.30. The trade was a 35.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were 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 $1,215,892.86. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.02% of the company's stock.

Institutional Trading of Flotek Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Flotek Industries during the 2nd quarter valued at about $50,000. Kathmere Capital Management LLC bought a new position in shares of Flotek Industries during the 1st quarter valued at about $85,000. Victory Capital Management Inc. bought a new position in shares of Flotek Industries during the 1st quarter valued at about $96,000. New York State Common Retirement Fund bought a new position in shares of Flotek Industries during the 2nd quarter valued at about $102,000. Finally, Bard Associates Inc. bought a new position in shares of Flotek Industries during the 1st quarter valued at about $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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