Zacks Investment Research upgraded shares of Flotek Industries, Inc. (NYSE:FTK) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning.

According to Zacks, “Flotek manufactures and markets innovative specialty chemicals, downhole drilling and production equipment, and management of automated bulk material handling, loading and blending facilities. It serves major and independent companies in the domestic and international oilfield service industry. “

Several other research firms have also commented on FTK. Seaport Global Securities reissued a buy rating on shares of Flotek Industries in a report on Thursday, July 20th. BidaskClub downgraded shares of Flotek Industries from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. Finally, ValuEngine downgraded shares of Flotek Industries from a hold rating to a sell rating in a research note on Friday, June 2nd.

Flotek Industries (FTK) opened at 5.23 on Monday. The company’s market cap is $299.85 million. Flotek Industries has a one year low of $4.91 and a one year high of $16.93. The company has a 50-day moving average of $6.48 and a 200 day moving average of $9.76.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Flotek Industries in the 2nd quarter valued at approximately $105,000. The Manufacturers Life Insurance Company boosted its stake in shares of Flotek Industries by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,450 shares of the oil and gas company’s stock valued at $388,000 after purchasing an additional 744 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Flotek Industries in the 2nd quarter valued at approximately $206,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Flotek Industries in the 2nd quarter valued at approximately $147,000. Finally, State Street Corp boosted its stake in shares of Flotek Industries by 3.5% in the 2nd quarter. State Street Corp now owns 1,299,110 shares of the oil and gas company’s stock valued at $11,615,000 after purchasing an additional 44,475 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).

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