Flotek Industries (NYSE:FTK) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Flotek Industries has been upgraded to a "Buy" rating by Wall Street Zen, following similar upgrades from Northland Securities and Alliance Global Partners, indicating strong analyst confidence in the stock.
• The company reported earnings of $0.16 per share for the last quarter, surpassing analysts' expectations, and posted revenue of $58.35 million.
• Recent insider trading activity saw CFO James Bond Clement and CEO Ryan Gillis Ezell sell significant portions of their stock holdings, suggesting potential caution despite the positive ratings.

Wall Street Zen upgraded shares of Flotek Industries (NYSE:FTK - Free Report) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other brokerages have also issued reports on FTK. Northland Securities upgraded shares of Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 target price for the company in a research report on Wednesday, August 6th. Northland Capmk upgraded shares of Flotek Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Alliance Global Partners initiated coverage on shares of Flotek Industries in a research report on Thursday, June 12th. They set a "buy" rating and a $19.00 price target for the company. One investment 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.com, the company has a consensus rating of "Buy" and an average target price of $14.33.

Flotek Industries Price Performance

Shares of Flotek Industries stock traded up $0.48 during trading on Friday, hitting $13.63. The stock had a trading volume of 27,148 shares, compared to its average volume of 393,117. The firm has a market cap of $406.84 million, a price-to-earnings ratio of 30.63 and a beta of 1.06. Flotek Industries has a 12 month low of $4.55 and a 12 month high of $16.87. The business's 50-day moving average is $12.17 and its 200 day moving average is $11.58. 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 (NYSE:FTK - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $58.35 million for the quarter, compared to analysts' expectations of $52.40 million. Flotek Industries had a net margin of 6.59% and a return on equity of 17.67%. Flotek Industries has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Flotek Industries will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of $1,068,912.62. Following the completion of the transaction, the chief executive officer owned 156,855 shares in the company, valued at $1,923,042.30. This represents a 35.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the chief financial officer owned 95,439 shares of the company's stock, 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 Trading of Flotek Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Informed Momentum Co LLC lifted its holdings in Flotek Industries by 1.4% in the first quarter. Informed Momentum Co LLC now owns 100,105 shares of the oil and gas company's stock worth $834,000 after buying an additional 1,380 shares during the period. Jefferies Financial Group Inc. lifted its holdings in Flotek Industries by 3.2% in the first quarter. Jefferies Financial Group Inc. now owns 51,581 shares of the oil and gas company's stock worth $430,000 after buying an additional 1,581 shares during the period. Ritholtz Wealth Management lifted its holdings in Flotek Industries by 3.7% in the second quarter. Ritholtz Wealth Management now owns 81,027 shares of the oil and gas company's stock worth $1,196,000 after buying an additional 2,901 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in Flotek Industries in the second quarter worth about $50,000. Finally, New York State Common Retirement Fund purchased a new stake in Flotek Industries in the second quarter worth about $102,000. 10.90% of the stock is currently owned by hedge funds and other institutional investors.

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).