Movers and SHAKERS
Flotek Industries (FTK)
Partnership provides growth, adds an investment partner, and improves the financial position
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 and ProFrac enter into a three-year agreement to integrate operations. ProFrac, the largest private provider of hydraulic fracturing services, commits to use Flotek chemistry solutions in part of its operations in exchange for $10 million in convertible notes. ProFrac will also participate in a PIPE sale of notes. See Flotek press release for details.
The agreement provides growth and stability — view it as a sales agreement. The agreement creates a backlog of $230 million and should more than double sales, while providing stability. We believe the agreement could ultimately be extended and lead to others ...
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.