Flotek Industries, Inc. (NYSE:FTK) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

Several other brokerages also recently issued reports on FTK. Zacks Investment Research upgraded shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Monday, May 8th. Seaport Global Securities reiterated a “buy” rating on shares of Flotek Industries in a research note on Thursday, July 20th. 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 (NYSE:FTK) traded up 0.55% during mid-day trading on Thursday, hitting $5.47. The company had a trading volume of 677,467 shares. The firm’s market capitalization is $313.61 million. Flotek Industries has a 12-month low of $4.91 and a 12-month high of $16.93. The company’s 50 day moving average price is $7.32 and its 200-day moving average price is $10.13.

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Several hedge funds and other institutional investors have recently modified their holdings of FTK. BlackRock Inc. increased its position in shares of Flotek Industries by 132,538.6% in the first quarter. BlackRock Inc. now owns 6,760,587 shares of the oil and gas company’s stock valued at $86,468,000 after buying an additional 6,755,490 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Flotek Industries by 2.8% in the second quarter. Vanguard Group Inc. now owns 5,020,985 shares of the oil and gas company’s stock valued at $44,888,000 after buying an additional 135,026 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Flotek Industries by 3,092.1% in the second quarter. JPMorgan Chase & Co. now owns 4,058,817 shares of the oil and gas company’s stock valued at $36,286,000 after buying an additional 3,931,665 shares in the last quarter. Bamco Inc. NY increased its position in shares of Flotek Industries by 21.3% in the second quarter. Bamco Inc. NY now owns 3,060,366 shares of the oil and gas company’s stock valued at $27,360,000 after buying an additional 536,514 shares in the last quarter. Finally, Northpointe Capital LLC increased its position in shares of Flotek Industries by 15.7% in the second quarter. Northpointe Capital LLC now owns 1,757,075 shares of the oil and gas company’s stock valued at $15,708,000 after buying an additional 239,065 shares in the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.

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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