Flotek Industries, Inc. (FTK) Stock Rating Upgraded by BidaskClub

Flotek Industries, Inc. (NYSE:FTK) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Tuesday, August 8th.

A number of other brokerages have also recently issued reports on FTK. Zacks Investment Research raised shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Monday, May 8th. Seaport Global Securities reissued a “buy” rating on shares of Flotek Industries in a research report on Thursday, July 20th. Finally, ValuEngine downgraded Flotek Industries from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd.

Flotek Industries (NYSE:FTK) opened at 5.63 on Tuesday. Flotek Industries has a 1-year low of $4.91 and a 1-year high of $16.93. The company’s 50-day moving average is $7.76 and its 200 day moving average is $10.31. The firm’s market capitalization is $322.78 million.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Viking Fund Management LLC bought a new position in Flotek Industries during the second quarter worth approximately $4,559,000. Swiss National Bank increased its position in Flotek Industries by 5.0% in the first quarter. Swiss National Bank now owns 88,500 shares of the oil and gas company’s stock worth $1,132,000 after buying an additional 4,200 shares during the period. Skylands Capital LLC increased its position in Flotek Industries by 188.2% in the second quarter. Skylands Capital LLC now owns 210,800 shares of the oil and gas company’s stock worth $1,885,000 after buying an additional 137,650 shares during the period. Norges Bank bought a new position in Flotek Industries during the fourth quarter worth approximately $626,000. Finally, Pioneer Investment Management Inc. increased its position in Flotek Industries by 48.1% in the first quarter. Pioneer Investment Management Inc. now owns 586,547 shares of the oil and gas company’s stock worth $7,502,000 after buying an additional 190,610 shares during the period. 98.21% of the stock is owned by institutional investors and hedge funds.

About Flotek Industries

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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