Flotek Industries (NYSE:FTK) Upgraded at Northland Capmk

Flotek Industries (NYSE:FTK - Get Free Report) was upgraded by investment analysts at Northland Capmk to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Northland Securities began coverage on Flotek Industries in a research note on Tuesday. They issued a "market perform" rating and a $16.00 price target on the stock. Alliance Global Partners started coverage on shares of Flotek Industries in a research note on Thursday, June 12th. They issued a "buy" rating and a $19.00 target price on the stock. Singular Research upgraded shares of Flotek Industries to a "moderate buy" rating in a research report on Monday, March 17th. Finally, Wall Street Zen cut shares of Flotek Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.33.

Flotek Industries Stock Down 7.2%

Shares of NYSE:FTK opened at $14.86 on Tuesday. The stock has a market cap of $443.57 million, a PE ratio of 33.02 and a beta of 1.39. The company's fifty day moving average is $11.53 and its 200 day moving average is $9.53. Flotek Industries has a 52 week low of $3.79 and a 52 week high of $16.87.

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 EPS for the quarter, topping the consensus estimate of $0.06 by $0.11. The firm had revenue of $55.36 million for the quarter, compared to the consensus estimate of $44.50 million. Flotek Industries had a return on equity of 12.76% and a net margin of 7.09%. Sell-side analysts anticipate that Flotek Industries will post 0.29 EPS for the current year.

Insider Buying and Selling at Flotek Industries

In other news, Director Matthew Wilks bought 103,514 shares of Flotek Industries stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $12.24 per share, for a total transaction of $1,267,011.36. Following the acquisition, the director now owns 144,350 shares of the company's stock, valued at approximately $1,766,844. The trade was a 253.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have purchased 149,766 shares of company stock valued at $1,841,758. 3.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flotek Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTK. Hillsdale Investment Management Inc. purchased a new stake in Flotek Industries in the fourth quarter worth about $4,418,000. S Squared Technology LLC purchased a new stake in shares of Flotek Industries in the 1st quarter worth approximately $2,170,000. Royce & Associates LP purchased a new stake in shares of Flotek Industries in the 1st quarter worth approximately $1,167,000. EAM Investors LLC purchased a new stake in shares of Flotek Industries in the 4th quarter worth approximately $941,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Flotek Industries in the 4th quarter worth approximately $826,000. 10.90% of the stock is owned by hedge funds and other institutional investors.

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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