Flotek Industries (NYSE:FTK) Coverage Initiated at Roth Mkm

Roth Mkm started coverage on shares of Flotek Industries (NYSE:FTK) in a note issued to investors on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $6.50 price target on the oil and gas company’s stock. Roth Mkm’s price target would suggest a potential upside of 41.92% from the stock’s previous close.

Separately, Alliance Global Partners assumed coverage on shares of Flotek Industries in a research report on Monday, April 29th. They issued a “buy” rating and a $7.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.75.

Flotek Industries Stock Performance

Flotek Industries stock opened at $4.58 on Thursday. Flotek Industries has a fifty-two week low of $2.64 and a fifty-two week high of $5.70. The stock has a market cap of $135.84 million, a PE ratio of 114.47 and a beta of 1.08. The firm’s 50-day simple moving average is $4.51 and its 200 day simple moving average is $3.73.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas company reported $0.05 earnings per share for the quarter. Flotek Industries had a net margin of 2.73% and a return on equity of 1.77%. The business had revenue of $40.37 million for the quarter.

Institutional Trading of Flotek Industries

Hedge funds have recently added to or reduced their stakes in the stock. Segment Wealth Management LLC bought a new stake in Flotek Industries in the fourth quarter worth about $241,000. Sanders Morris Harris LLC bought a new stake in shares of Flotek Industries in the first quarter valued at approximately $223,000. Masters Capital Management LLC raised its position in shares of Flotek Industries by 44.4% in 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 purchasing an additional 148,140 shares during the period. Pingora Partners LLC bought a new stake in shares of Flotek Industries in the fourth quarter valued at approximately $46,000. Finally, Vanguard Group Inc. raised its position in shares of Flotek Industries by 7.9% in the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 39,695 shares during the period. 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).