Flotek Industries, Inc. (NYSE:FTK) Director Buys $184,516.00 in Stock

Flotek Industries, Inc. (NYSE:FTK) Director Matthew Wilks acquired 13,040 shares of the stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $14.15 per share, with a total value of $184,516.00. Following the completion of the transaction, the director now owns 157,390 shares in the company, valued at $2,227,068.50. This trade represents a 9.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, May 15th, Matthew Wilks acquired 402 shares of Flotek Industries stock. The stock was bought at an average cost of $14.99 per share, with a total value of $6,025.98.
• On Monday, May 12th, Matthew Wilks acquired 103,514 shares of Flotek Industries stock. The stock was bought at an average cost of $12.24 per share, with a total value of $1,267,011.36.
• On Friday, May 9th, Matthew Wilks acquired 32,810 shares of Flotek Industries stock. The stock was bought at an average cost of $11.71 per share, with a total value of $384,205.10.

Flotek Industries Stock Performance

Shares of FTK opened at $15.73 on Monday. The company has a 50 day moving average price of $8.53 and a 200-day moving average price of $8.36. Flotek Industries, Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $15.96. The stock has a market capitalization of $469.03 million, a PE ratio of 60.48 and a beta of 1.00.

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

Institutional Investors Weigh In On Flotek Industries

Hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. purchased a new stake in Flotek Industries during the fourth quarter valued at approximately $4,418,000. Acuitas Investments LLC lifted its position in Flotek Industries by 18.6% during the first quarter. Acuitas Investments LLC now owns 321,925 shares of the oil and gas company’s stock valued at $2,682,000 after acquiring an additional 50,584 shares during the last quarter. Geode Capital Management LLC lifted its position in Flotek Industries by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 302,539 shares of the oil and gas company’s stock valued at $2,885,000 after acquiring an additional 5,056 shares during the last quarter. S Squared Technology LLC purchased a new stake in Flotek Industries during the first quarter valued at approximately $2,170,000. Finally, Truist Financial Corp lifted its position in Flotek Industries by 3.6% during the fourth quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company’s stock valued at $2,327,000 after acquiring an additional 8,500 shares during the last quarter. Hedge funds and other institutional investors own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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).