Flotek Industries (NYSE:FTK) Coverage Initiated by Analysts at Alliance Global Partners

Alliance Global Partners started coverage on shares of Flotek Industries (NYSE:FTK) in a research note issued to investors on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $7.00 price objective 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 Performance

Shares of NYSE:FTK opened at $3.46 on Monday. The company has a 50-day simple moving average of $3.41 and a 200-day simple moving average of $3.50. Flotek Industries has a one year low of $2.64 and a one year high of $5.70. The stock has a market capitalization of $102.62 million, a price-to-earnings ratio of -26.62 and a beta of 1.07.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings results 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 business had revenue of $42.19 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pingora Partners LLC acquired a new position in Flotek Industries during the fourth quarter worth about $46,000. Sanders Morris Harris LLC acquired a new stake in shares of Flotek Industries in the first quarter valued at approximately $223,000. Segment Wealth Management LLC acquired a new stake in shares of Flotek Industries in the fourth quarter valued at approximately $241,000. Finally, Masters Capital Management LLC grew its position in shares of 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 purchasing an additional 148,140 shares during the last quarter. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Flotek Industries Company Profile

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).