Flotek Industries (NYSE:FTK) Research Coverage Started at Alliance Global Partners

Alliance Global Partners began coverage on shares of Flotek Industries (NYSE:FTK) in a research report sent to investors on Monday, Marketbeat.com reports. The firm issued a buy rating and a $7.00 price target on the oil and gas company’s stock.

Separately, TheStreet raised Flotek Industries from a d rating to a c- rating in a research note on Wednesday, March 13th.

Flotek Industries Trading Up 0.6 %

NYSE:FTK opened at $3.46 on Monday. The company has a market capitalization of $102.62 million, a P/E ratio of -26.62 and a beta of 1.07. Flotek Industries has a 12 month low of $2.64 and a 12 month high of $5.70. The business’s 50-day moving average is $3.41 and its 200 day moving average is $3.50.

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

Institutional Investors Weigh In On Flotek Industries

Several large investors have recently added to or reduced their stakes in FTK. Masters Capital Management LLC grew its stake in shares of Flotek Industries by 44.4% during 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 last quarter. Segment Wealth Management LLC bought a new position in shares of Flotek Industries during the fourth quarter valued at approximately $241,000. Sanders Morris Harris LLC bought a new position in shares of Flotek Industries during the first quarter valued at approximately $223,000. Finally, Pingora Partners LLC bought a new position in shares of Flotek Industries during the fourth quarter valued at approximately $46,000. 10.90% of the stock is owned by institutional investors.

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).