Flotek Industries (NYSE:FTK) Given New $8.00 Price Target at Roth Mkm

Flotek Industries (NYSE:FTK) had its price objective raised by equities researchers at Roth Mkm from $6.50 to $8.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Roth Mkm’s price target would suggest a potential upside of 16.96% from the company’s previous close.

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

Flotek Industries Trading Up 4.1 %

Shares of FTK traded up $0.27 during mid-day trading on Thursday, hitting $6.84. The company’s stock had a trading volume of 52,078 shares, compared to its average volume of 78,117. Flotek Industries has a 52-week low of $2.64 and a 52-week high of $6.85. The company’s 50-day moving average is $4.84 and its 200-day moving average is $4.44. The firm has a market capitalization of $203.90 million, a price-to-earnings ratio of 26.04 and a beta of 1.04.

Flotek Industries (NYSE:FTK) last posted its earnings results 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 company had revenue of $49.74 million for the quarter, compared to analyst estimates of $50.40 million. Flotek Industries had a return on equity of 7.86% and a net margin of 4.58%. During the same quarter in the previous year, the firm earned $0.04 earnings per share. As a group, sell-side analysts predict that Flotek Industries will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTK. Sanders Morris Harris LLC acquired a new stake in shares of Flotek Industries during the 3rd quarter worth approximately $137,000. Masters Capital Management LLC grew its position in Flotek Industries by 3.8% during the first quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock valued at $1,870,000 after buying an additional 18,524 shares during the period. Finally, Vanguard Group Inc. grew its position in Flotek Industries by 7.9% during 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 buying an additional 39,695 shares during the period. 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).