Insider Buying: Flotek Industries Inc (NYSE:FTK) Director Buys 6,000 Shares of Stock

Flotek Industries Inc (NYSE:FTK) Director Harshavardhan V. Agadi purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $2.06 per share, for a total transaction of $12,360.00. Following the purchase, the director now directly owns 30,000 shares in the company, valued at approximately $61,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Flotek Industries stock opened at $2.39 on Wednesday. The company’s fifty day moving average price is $1.54 and its 200 day moving average price is $1.23. Flotek Industries Inc has a 1 year low of $0.66 and a 1 year high of $2.65. The stock has a market capitalization of $146.89 million, a P/E ratio of -1.15 and a beta of 2.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.61 and a current ratio of 4.69.

Flotek Industries (NYSE:FTK) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). Flotek Industries had a negative net margin of 178.19% and a negative return on equity of 29.06%. The company had revenue of $8.88 million for the quarter.

Large investors have recently modified their holdings of the business. Hourglass Capital LLC increased its stake in shares of Flotek Industries by 300.0% during the first quarter. Hourglass Capital LLC now owns 40,000 shares of the oil and gas company’s stock worth $36,000 after buying an additional 30,000 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Flotek Industries by 72.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 62,389 shares of the oil and gas company’s stock valued at $125,000 after purchasing an additional 26,121 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Flotek Industries by 106.2% in the first quarter. Parametric Portfolio Associates LLC now owns 63,798 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 32,864 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Flotek Industries in the first quarter valued at approximately $59,000. Finally, Valeo Financial Advisors LLC acquired a new position in Flotek Industries in the second quarter valued at approximately $90,000. Institutional investors own 49.93% of the company’s stock.

About Flotek Industries

Flotek Industries, Inc provides chemistry and services to the oil and gas industries in then United States and internationally. The company designs, develops, manufactures, packs, markets, distributes, and delivers reservoir-centric fluid systems, including specialty and conventional chemistries for use in oil and gas well drilling, cementing, completion, remediation, and stimulation activities, as well as use in enhanced and improved oil recovery markets under the Complex nano-Fluid, Pressure reducing Fluids, and MicroSolv brand names.

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Insider Buying and Selling by Quarter for Flotek Industries (NYSE:FTK)

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