Flotek Industries (NYSE:FTK) Receives New Coverage from Analysts at Alliance Global Partners

Investment analysts at Alliance Global Partners began coverage on shares of Flotek Industries (NYSE:FTK - Get Free Report) in a note issued to investors on Monday, Marketbeat.com reports. The brokerage set a "buy" rating and a $7.00 price target on the oil and gas company's stock. Alliance Global Partners' price target suggests a potential upside of 99.43% from the stock's previous close.

Separately, TheStreet upgraded shares of Flotek Industries from a "d" rating to a "c-" rating in a research report on Wednesday, March 13th.

Flotek Industries Stock Up 1.2 %

Shares of NYSE:FTK traded up $0.04 during midday trading on Monday, hitting $3.51. 33,323 shares of the stock traded hands, compared to its average volume of 52,331. Flotek Industries has a one year low of $2.64 and a one year high of $5.70. The business's 50 day moving average is $3.39 and its two-hundred day moving average is $3.51. The stock has a market capitalization of $104.11 million, a PE ratio of -26.54 and a beta of 1.06.

Flotek Industries (NYSE:FTK - Get Free Report) last announced its quarterly earnings results on Tuesday, March 12th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter. Flotek Industries had a net margin of 13.14% and a negative return on equity of 0.65%. The company had revenue of $42.19 million for the quarter.

Institutional Investors Weigh In On Flotek Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Masters Capital Management LLC grew its holdings in shares of Flotek Industries by 44.4% during the fourth quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company's stock valued at $1,887,000 after buying an additional 148,140 shares during the last quarter. Segment Wealth Management LLC bought a new position in Flotek Industries during the fourth quarter valued at approximately $241,000. Sanders Morris Harris LLC bought a new position in Flotek Industries during the first quarter valued at approximately $223,000. Finally, Pingora Partners LLC bought a new position in Flotek Industries during the fourth quarter valued at approximately $46,000. Hedge funds and other 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).