Flotek Industries (NYSE:FTK) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Flotek Industries has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in market sentiment regarding the stock.
• Despite the downgrade, Flotek's stock has an average rating of "Buy" from other analysts with a consensus target price of $14.33.
• Insiders, including the CFO and CEO, have recently sold significant shares of the company's stock, indicating potential concerns about the company’s future performance.

Flotek Industries (NYSE:FTK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

FTK has been the subject of several other reports. Alliance Global Partners began coverage on Flotek Industries in a research note on Thursday, June 12th. They set a "buy" rating and a $19.00 target price for the company. Northland Capmk upgraded Flotek Industries from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Finally, Northland Securities upgraded Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price target for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $14.33.

Flotek Industries Trading Up 2.1%

NYSE FTK opened at $14.62 on Friday. The firm has a market cap of $436.64 million, a P/E ratio of 33.23 and a beta of 1.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.59 and a quick ratio of 1.36. The stock's 50-day moving average is $12.26 and its 200-day moving average is $11.72. Flotek Industries has a one year low of $4.55 and a one year high of $16.87.

Flotek Industries (NYSE:FTK - Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The business had revenue of $58.35 million for the quarter, compared to analyst estimates 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. Sell-side analysts anticipate that Flotek Industries will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James Bond Clement sold 45,732 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $12.74, for a total transaction of $582,625.68. Following the sale, the chief financial officer owned 95,439 shares in the company, valued at $1,215,892.86. This represents a 32.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Gillis Ezell sold 87,187 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $12.26, for a total value of $1,068,912.62. Following the completion of the transaction, the chief executive officer directly owned 156,855 shares in the company, valued at approximately $1,923,042.30. This trade represents a 35.73% 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 Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Flotek Industries by 27.9% in the first quarter. Goldman Sachs Group Inc. now owns 120,927 shares of the oil and gas company's stock worth $1,007,000 after purchasing an additional 26,400 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Flotek Industries by 130.1% in the first quarter. Cubist Systematic Strategies LLC now owns 98,248 shares of the oil and gas company's stock worth $818,000 after purchasing an additional 55,543 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Flotek Industries in the first quarter worth approximately $651,000. Algert Global LLC raised its stake in shares of Flotek Industries by 195.1% in the first quarter. Algert Global LLC now owns 31,490 shares of the oil and gas company's stock worth $262,000 after purchasing an additional 20,820 shares during the last quarter. Finally, S Squared Technology LLC purchased a new stake in shares of Flotek Industries in the first quarter worth approximately $2,170,000. Institutional investors own 10.90% of the company's stock.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.