Flotek Industries (NYSE:FTK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flotek Industries (NYSE:FTK) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other research analysts have also recently issued reports on the company. Alliance Global Partners initiated coverage on Flotek Industries in a report on Thursday, June 12th. They set a “buy” rating and a $19.00 price objective for the company. Northland Securities raised Flotek Industries from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Wednesday, August 6th. Finally, Northland Capmk raised Flotek Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.33.

Flotek Industries Stock Up 1.1%

Shares of NYSE FTK opened at $13.16 on Friday. The stock has a market cap of $392.96 million, a PE ratio of 29.91 and a beta of 1.06. The business has a fifty day moving average of $12.17 and a two-hundred day moving average of $11.58. Flotek Industries has a 52-week low of $4.55 and a 52-week high of $16.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.36 and a current ratio of 1.59.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings data 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 company had revenue of $58.35 million during the quarter, compared to analysts’ expectations 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. As a group, equities research analysts expect that Flotek Industries will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ryan Gillis Ezell sold 87,187 shares of the business’s stock in a transaction dated 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 directly owned 156,855 shares in the company, valued at approximately $1,923,042.30. The trade was a 35.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Bond Clement sold 45,732 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was 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 $1,215,892.86. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flotek Industries

Institutional investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Flotek Industries during the 2nd quarter worth about $50,000. New York State Common Retirement Fund bought a new position in shares of Flotek Industries during the 2nd quarter valued at about $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flotek Industries during the 2nd quarter valued at about $115,000. Kathmere Capital Management LLC bought a new position in shares of Flotek Industries during the 1st quarter valued at about $85,000. Finally, D Orazio & Associates Inc. bought a new position in shares of Flotek Industries during the 2nd quarter valued at about $153,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

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).