Flotek Industries (NYSE:FTK) Upgraded to “Buy” 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 note issued to investors on Saturday.

A number of other research analysts have also recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Flotek Industries in a research report on Wednesday, October 8th. Northland Securities raised shares of Flotek Industries from a “market perform” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research note on Wednesday, August 6th. Finally, Northland Capmk upgraded shares of Flotek Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $17.50.

Flotek Industries Price Performance

FTK stock opened at $15.56 on Friday. The firm has a 50 day moving average of $14.54 and a 200-day moving average of $13.49. The company has a market cap of $464.44 million, a price-to-earnings ratio of 35.35 and a beta of 1.17. 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 has a 12-month low of $6.05 and a 12-month high of $18.96.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. The firm had revenue of $56.03 million during the quarter, compared to the consensus estimate of $52.90 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 analysts expect that Flotek Industries will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flotek Industries news, CEO Ryan Gillis Ezell sold 87,187 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $12.26, for a total value of $1,068,912.62. Following the transaction, the chief executive officer directly owned 156,855 shares in the company, valued at approximately $1,923,042.30. This represents a 35.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Bond Clement sold 45,732 shares of Flotek Industries stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $12.74, for a total transaction of $582,625.68. Following the sale, the chief financial officer owned 95,439 shares of the company’s stock, valued at approximately $1,215,892.86. This trade represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flotek Industries

Several institutional investors and hedge funds have recently modified their holdings of FTK. Police & Firemen s Retirement System of New Jersey acquired a new stake in Flotek Industries during the second quarter worth approximately $50,000. New York State Common Retirement Fund purchased a new position in shares of Flotek Industries during the 2nd quarter worth $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flotek Industries during the second quarter worth $115,000. Kathmere Capital Management LLC purchased a new stake in shares of Flotek Industries in the first quarter valued at $85,000. Finally, D Orazio & Associates Inc. purchased a new stake in shares of Flotek Industries in the second quarter valued at $153,000. 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).