Flotek Industries, Inc. (NYSE:FTK) Director Matthew Wilks Acquires 32,810 Shares

Flotek Industries, Inc. (NYSE:FTK) Director Matthew Wilks purchased 32,810 shares of the business’s stock in a transaction on Friday, May 9th. The stock was purchased at an average cost of $11.71 per share, with a total value of $384,205.10. Following the completion of the acquisition, the director now owns 72,006 shares in the company, valued at approximately $843,190.26. This trade represents a 83.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Matthew Wilks also recently made the following trade(s):

• On Monday, May 12th, Matthew Wilks purchased 103,514 shares of Flotek Industries stock. The stock was purchased at an average cost of $12.24 per share, with a total value of $1,267,011.36.

Flotek Industries Stock Performance

NYSE FTK opened at $14.57 on Thursday. Flotek Industries, Inc. has a 52-week low of $3.39 and a 52-week high of $15.72. The company has a market capitalization of $434.58 million, a P/E ratio of 56.04 and a beta of 1.00. The company has a fifty day moving average of $8.20 and a 200-day moving average of $8.16.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. The company had revenue of $55.36 million during the quarter, compared to the consensus estimate of $44.50 million. As a group, analysts forecast that Flotek Industries, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Singular Research raised shares of Flotek Industries to a “moderate buy” rating in a report on Monday, March 17th.

Institutional Trading of Flotek Industries

A number of hedge funds have recently made changes to their positions in FTK. Barclays PLC bought a new stake in shares of Flotek Industries during the 3rd quarter worth $66,000. Truist Financial Corp raised its position in Flotek Industries by 3.6% in the 4th quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 8,500 shares during the period. Acuitas Investments LLC purchased a new position in Flotek Industries in the 4th quarter worth $2,586,000. Bailard Inc. purchased a new position in Flotek Industries in the 4th quarter worth $360,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Flotek Industries in the 4th quarter worth $148,000. 10.90% of the stock is owned by institutional investors.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).