Flotek Industries’ (FTK) Buy Rating Reaffirmed at Seaport Global Securities

Seaport Global Securities reissued their buy rating on shares of Flotek Industries, Inc. (NYSE:FTK) in a report published on Thursday, July 20th.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Flotek Industries from a buy rating to a hold rating in a report on Tuesday, April 18th. ValuEngine downgraded shares of Flotek Industries from a hold rating to a sell rating in a report on Friday, June 2nd.

Shares of Flotek Industries (NYSE FTK) traded down 0.68% during mid-day trading on Thursday, reaching $5.86. 813,360 shares of the company’s stock traded hands. Flotek Industries has a 12-month low of $4.91 and a 12-month high of $16.93. The firm’s 50 day moving average price is $8.00 and its 200-day moving average price is $10.41. The stock’s market cap is $335.97 million.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBW Capital LLC raised its position in shares of Flotek Industries by 23.2% in the first quarter. NBW Capital LLC now owns 264,544 shares of the oil and gas company’s stock worth $3,384,000 after buying an additional 49,886 shares during the period. Hartford Investment Management Co. raised its position in shares of Flotek Industries by 7.6% in the first quarter. Hartford Investment Management Co. now owns 18,500 shares of the oil and gas company’s stock worth $237,000 after buying an additional 1,300 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Flotek Industries by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 22,100 shares of the oil and gas company’s stock worth $283,000 after buying an additional 400 shares during the period. Skylands Capital LLC raised its position in shares of Flotek Industries by 14.5% in the first quarter. Skylands Capital LLC now owns 73,150 shares of the oil and gas company’s stock worth $936,000 after buying an additional 9,250 shares during the period. Finally, GW&K Investment Management LLC raised its position in shares of Flotek Industries by 0.7% in the first quarter. GW&K Investment Management LLC now owns 1,271,862 shares of the oil and gas company’s stock worth $16,267,000 after buying an additional 9,051 shares during the period. Hedge funds and other institutional investors own 98.21% 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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