Flotek Industries (NYSE:FTK) Stock Price Expected to Rise, Roth Mkm Analyst Says

Flotek Industries (NYSE:FTK) had its price target lifted by research analysts at Roth Mkm from $6.50 to $8.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Roth Mkm’s price objective points to a potential upside of 16.96% from the stock’s current price.

Separately, Roth Capital raised Flotek Industries to a “strong-buy” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $7.50.

Flotek Industries Stock Up 4.1 %

Shares of FTK stock traded up $0.27 during trading hours on Thursday, hitting $6.84. 52,078 shares of the company’s stock were exchanged, compared to its average volume of 78,117. Flotek Industries has a fifty-two week low of $2.64 and a fifty-two week high of $6.85. The firm has a market cap of $203.90 million, a P/E ratio of 26.04 and a beta of 1.04. The firm has a 50 day moving average of $4.84 and a two-hundred day moving average of $4.44.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Monday, November 4th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $49.74 million for the quarter, compared to the consensus estimate of $50.40 million. Flotek Industries had a net margin of 4.58% and a return on equity of 7.86%. During the same period last year, the firm posted $0.04 earnings per share. On average, equities analysts forecast that Flotek Industries will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FTK. Sanders Morris Harris LLC acquired a new position in Flotek Industries during the third quarter worth $137,000. Masters Capital Management LLC boosted its position in shares of Flotek Industries by 3.8% during the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock valued at $1,870,000 after acquiring an additional 18,524 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Flotek Industries by 7.9% in the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 39,695 shares during the period. 10.90% of the stock is currently owned by institutional investors and hedge funds.

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).