Flotek Industries (FTK)
Flotek Receives Unsolicited Indication of Interest – Details Sparse
Flotek Industries, Inc. creates solutions to reduce the environmental impact of energy on air, water, land and people. Flotek Industries, Inc. is a technology-driven, specialty chemistry and data company that helps customers across industrial, commercial and consumer markets improve their Environmental, Social and Governance performance. Flotek’s Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use. Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its real-time data platforms and green chemistry technologies. Flotek serves downstream, midstream and upstream customers, both domestic and international. Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit Flotek’s web site at www.flotekind.com.
Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Flotek Industries released a press release announcing that it has received an unsolicited indication of interest, and that it has engaged Piper Sandler & Co to evaluate the interest. The company did not provide any details regarding the indication or Flotek’s response, and that it does not plan to make additional comments until the Board has determined a course of action. We have not had a chance to talk with management, nor do we expect them to provide additional commentary should we talk to them.
Flotek has recently taken steps that we believe will lead to a higher valuation, but may consider a takeout if the price is right. We believe the company has taken positive steps towards restructuring and growing operations and is on the verge of recognizing the benefits of these steps. Management has become increasingly optimistic about the future and we believe they would be comfortable taking a …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.