Flotek Industries (NYSE:FTK) Raised to “Moderate Buy” at Singular Research

Flotek Industries (NYSE:FTK) was upgraded by stock analysts at Singular Research to a “moderate buy” rating in a research report issued on Monday,Zacks.com reports.

Flotek Industries Price Performance

NYSE:FTK opened at $9.40 on Monday. The firm’s fifty day moving average price is $8.59 and its two-hundred day moving average price is $7.24. The company has a market cap of $280.26 million, a P/E ratio of 36.14 and a beta of 1.21. Flotek Industries has a one year low of $3.13 and a one year high of $10.35.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Monday, March 10th. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.04. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. The firm had revenue of $50.76 million for the quarter, compared to analysts’ expectations of $50.08 million. During the same period in the prior year, the firm earned $0.07 EPS. As a group, equities research analysts expect that Flotek Industries will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Flotek Industries

A number of hedge funds and other institutional investors have recently modified their holdings of FTK. Tower Research Capital LLC TRC acquired a new position in shares of Flotek Industries during the 4th quarter worth approximately $42,000. XTX Topco Ltd acquired a new position in Flotek Industries in the 3rd quarter valued at approximately $53,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Flotek Industries in the fourth quarter worth $57,000. Wilmington Savings Fund Society FSB bought a new position in Flotek Industries during the 3rd quarter worth $60,000. Finally, Barclays PLC bought a new stake in shares of Flotek Industries in the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

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).