Flotek Industries, Inc. (FTK) Downgraded by BidaskClub

Flotek Industries, Inc. (NYSE:FTK) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

A number of other analysts also recently weighed in on FTK. Seaport Global Securities reissued a “buy” rating on shares of Flotek Industries in a report on Thursday, July 20th. Zacks Investment Research downgraded shares of Flotek Industries from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, ValuEngine downgraded shares of Flotek Industries from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.

Flotek Industries (NYSE:FTK) traded up 0.12% during midday trading on Tuesday, hitting $8.39. 337,812 shares of the stock traded hands. The stock’s market cap is $480.36 million. The company has a 50-day moving average of $8.93 and a 200-day moving average of $10.76. Flotek Industries has a 1-year low of $7.68 and a 1-year high of $16.93.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Flotek Industries had a negative net margin of 10.43% and a negative return on equity of 3.38%. The firm had revenue of $80 million during the quarter, compared to the consensus estimate of $78.85 million. During the same period in the prior year, the firm earned ($0.08) EPS. The business’s revenue was up 25.4% on a year-over-year basis. On average, equities analysts expect that Flotek Industries will post $0.27 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. First Mercantile Trust Co. acquired a new position in shares of Flotek Industries during the first quarter worth about $112,000. KCG Holdings Inc. acquired a new position in shares of Flotek Industries during the first quarter worth about $137,000. BNP Paribas Arbitrage SA boosted its position in shares of Flotek Industries by 12.3% in the first quarter. BNP Paribas Arbitrage SA now owns 11,044 shares of the oil and gas company’s stock worth $141,000 after buying an additional 1,209 shares in the last quarter. RNC Capital Management LLC boosted its position in shares of Flotek Industries by 10.0% in the first quarter. RNC Capital Management LLC now owns 11,035 shares of the oil and gas company’s stock worth $141,000 after buying an additional 1,000 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in shares of Flotek Industries by 7.6% in the first quarter. Mason Street Advisors LLC now owns 12,664 shares of the oil and gas company’s stock worth $162,000 after buying an additional 893 shares in the last quarter. Institutional investors own 99.51% of the company’s stock.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).