Flotek Industries, Inc. (NYSE:FTK) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, July 25th.
Several other analysts have also recently weighed in on the company. Zacks Investment Research cut Flotek Industries from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. ValuEngine cut Flotek Industries from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Flotek Industries in a report on Thursday, July 20th.
Shares of Flotek Industries (NYSE FTK) traded up 7.45% on Tuesday, hitting $6.35. The company had a trading volume of 2,320,329 shares. The firm has a 50-day moving average price of $8.76 and a 200 day moving average price of $10.71. Flotek Industries has a 12-month low of $5.93 and a 12-month high of $16.93. The company’s market capitalization is $364.06 million.
Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $80 million during the quarter, compared to analysts’ expectations of $78.85 million. Flotek Industries had a negative return on equity of 2.07% and a negative net margin of 10.49%. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) EPS. Equities analysts expect that Flotek Industries will post $0.24 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in FTK. Deprince Race & Zollo Inc. boosted its position in shares of Flotek Industries by 22.0% in the second quarter. Deprince Race & Zollo Inc. now owns 61,000 shares of the oil and gas company’s stock valued at $545,000 after buying an additional 11,000 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Flotek Industries by 59.0% in the second quarter. BNP Paribas Arbitrage SA now owns 17,562 shares of the oil and gas company’s stock valued at $157,000 after buying an additional 6,518 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Flotek Industries by 9.1% in the second quarter. Legal & General Group Plc now owns 101,869 shares of the oil and gas company’s stock valued at $911,000 after buying an additional 8,485 shares in the last quarter. Northpointe Capital LLC boosted its position in shares of Flotek Industries by 15.7% in the second quarter. Northpointe Capital LLC now owns 1,757,075 shares of the oil and gas company’s stock valued at $15,708,000 after buying an additional 239,065 shares in the last quarter. Finally, Denver Investment Advisors LLC boosted its position in shares of Flotek Industries by 7.3% in the second quarter. Denver Investment Advisors LLC now owns 43,070 shares of the oil and gas company’s stock valued at $385,000 after buying an additional 2,945 shares in the last quarter.
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).
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