Shares of Flotek Industries Inc. (NYSE:FTK) have received a consensus rating of “Buy” from the seven research firms that are covering the firm. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $11.95.

Separately, Zacks Investment Research upgraded Flotek Industries from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Friday, October 21st.

In related news, Director L Melvin Cooper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $16.01, for a total value of $160,100.00. Following the completion of the sale, the director now directly owns 92,475 shares of the company’s stock, valued at approximately $1,480,524.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.64% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Flotek Industries during the third quarter worth about $116,000. Mason Street Advisors LLC bought a new stake in Flotek Industries during the second quarter worth $139,000. KCG Holdings Inc. bought a new stake in Flotek Industries during the third quarter worth $163,000. Municipal Employees Retirement System of Michigan boosted its stake in Flotek Industries by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,950 shares of the company’s stock worth $174,000 after buying an additional 190 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in Flotek Industries by 7.0% in the second quarter. Riverhead Capital Management LLC now owns 13,464 shares of the company’s stock worth $252,000 after buying an additional 886 shares during the last quarter. 95.55% of the stock is owned by hedge funds and other institutional investors.

Flotek Industries (NYSE:FTK) opened at 12.34 on Wednesday. The stock’s market capitalization is $699.72 million. The company’s 50-day moving average price is $13.13 and its 200 day moving average price is $13.24. Flotek Industries has a 12 month low of $4.89 and a 12 month high of $16.93.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.03. Flotek Industries had a negative net margin of 12.39% and a negative return on equity of 3.91%. The business earned $73.70 million during the quarter, compared to analysts’ expectations of $78.10 million. During the same quarter in the previous year, the company posted $0.04 EPS. The company’s revenue was down 16.2% compared to the same quarter last year. On average, analysts forecast that Flotek Industries will post ($0.17) earnings per share for the current fiscal year.

About Flotek Industries

Flotek Industries, Inc is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies.

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