Flotek Industries (NYSE:FTK) Upgraded to Moderate Buy at Singular Research

Singular Research upgraded shares of Flotek Industries (NYSE:FTK) to a moderate buy rating in a research note published on Monday,Zacks.com reports.

Flotek Industries Trading Down 1.1 %

Shares of NYSE:FTK opened at $9.40 on Monday. Flotek Industries has a 1 year low of $3.13 and a 1 year high of $10.35. The business has a fifty day simple moving average of $8.59 and a 200 day simple moving average of $7.24. The firm has a market cap of $280.26 million, a price-to-earnings ratio of 36.14 and a beta of 1.21.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Monday, March 10th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. The business had revenue of $50.76 million during the quarter, compared to analyst estimates of $50.08 million. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. During the same period last year, the company earned $0.07 earnings per share. On average, sell-side analysts forecast that Flotek Industries will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Flotek Industries

A number of large investors have recently added to or reduced their stakes in the stock. PDT Partners LLC acquired a new position in Flotek Industries during the third quarter valued at approximately $86,000. XTX Topco Ltd acquired a new position in Flotek Industries during the third quarter valued at approximately $53,000. Barclays PLC acquired a new position in Flotek Industries during the third quarter valued at approximately $66,000. Geode Capital Management LLC grew its holdings in Flotek Industries by 108.1% during the third quarter. Geode Capital Management LLC now owns 297,483 shares of the oil and gas company’s stock valued at $1,483,000 after purchasing an additional 154,497 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Flotek Industries during the third quarter valued at approximately $60,000. Institutional investors 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).