Flotek Industries, Inc. (FTK) Rating Lowered to Strong Sell at BidaskClub

Flotek Industries, Inc. (NYSE:FTK) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday, July 25th.

FTK has been the topic of several other research reports. Zacks Investment Research downgraded Flotek Industries from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. ValuEngine downgraded Flotek Industries from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Seaport Global Securities restated a “buy” rating on shares of Flotek Industries in a report on Thursday, July 20th.

Shares of Flotek Industries (NYSE FTK) traded down 0.17% during trading on Tuesday, hitting $5.95. 932,040 shares of the stock were exchanged. The stock’s market cap is $341.13 million. The stock has a 50-day moving average of $8.14 and a 200 day moving average of $10.47. Flotek Industries has a 12-month low of $4.91 and a 12-month high of $16.93.

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A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Flotek Industries by 132,538.6% in the first quarter. BlackRock Inc. now owns 6,760,587 shares of the oil and gas company’s stock valued at $86,468,000 after buying an additional 6,755,490 shares during the period. Vanguard Group Inc. boosted its position in Flotek Industries by 2.8% in the second quarter. Vanguard Group Inc. now owns 5,020,985 shares of the oil and gas company’s stock valued at $44,888,000 after buying an additional 135,026 shares during the period. JPMorgan Chase & Co. boosted its position in Flotek Industries by 3,092.1% in the second quarter. JPMorgan Chase & Co. now owns 4,058,817 shares of the oil and gas company’s stock valued at $36,286,000 after buying an additional 3,931,665 shares during the period. Northpointe Capital LLC boosted its position in 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 during the period. Finally, GW&K Investment Management LLC boosted its position in Flotek Industries by 0.7% in the first quarter. GW&K Investment Management LLC now owns 1,271,862 shares of the oil and gas company’s stock valued at $16,267,000 after buying an additional 9,051 shares during the period.

About Flotek Industries

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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