Flotek Industries (NYSE:FTK) Earns Buy Rating from Analysts at Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Flotek Industries (NYSE:FTK) in a research note released on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $7.00 target price on the oil and gas company’s stock.

Separately, TheStreet upgraded shares of Flotek Industries from a d rating to a c- rating in a research report on Wednesday, March 13th.

Flotek Industries Stock Up 1.2 %

Flotek Industries stock opened at $3.51 on Monday. The stock has a 50 day moving average of $3.39 and a two-hundred day moving average of $3.51. Flotek Industries has a twelve month low of $2.64 and a twelve month high of $5.70.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, March 12th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter. Flotek Industries had a net margin of 13.14% and a negative return on equity of 0.65%. The company had revenue of $42.19 million for the quarter.

Institutional Investors Weigh In On Flotek Industries

A number of large investors have recently bought and sold shares of the stock. Pingora Partners LLC acquired a new stake in Flotek Industries during the fourth quarter worth approximately $46,000. Sanders Morris Harris LLC purchased a new stake in shares of Flotek Industries during the 1st quarter worth about $223,000. Segment Wealth Management LLC acquired a new stake in Flotek Industries during the 4th quarter worth approximately $241,000. Finally, Masters Capital Management LLC raised its holdings in Flotek Industries by 44.4% in the fourth quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company’s stock valued at $1,887,000 after buying an additional 148,140 shares during the period. 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).