David Nierenberg Buys 111,250 Shares of Flotek Industries Inc (NYSE:FTK) Stock

Flotek Industries Inc (NYSE:FTK) Director David Nierenberg purchased 111,250 shares of Flotek Industries stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $3.60 per share, with a total value of $400,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

David Nierenberg also recently made the following trade(s):

  • On Thursday, June 6th, David Nierenberg purchased 187,500 shares of Flotek Industries stock. The stock was bought at an average cost of $3.44 per share, with a total value of $645,000.00.
  • On Thursday, May 30th, David Nierenberg purchased 20,200 shares of Flotek Industries stock. The stock was bought at an average cost of $3.08 per share, with a total value of $62,216.00.
  • On Monday, June 3rd, David Nierenberg purchased 101,250 shares of Flotek Industries stock. The stock was bought at an average cost of $3.12 per share, with a total value of $315,900.00.

Shares of NYSE FTK traded up $0.14 during mid-day trading on Tuesday, reaching $3.77. The company had a trading volume of 403,700 shares, compared to its average volume of 822,804. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.62 and a quick ratio of 5.44. The firm has a market capitalization of $206.29 million, a price-to-earnings ratio of -6.50 and a beta of 3.09. Flotek Industries Inc has a 12-month low of $0.95 and a 12-month high of $3.81.



Flotek Industries (NYSE:FTK) last posted its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The company had revenue of $43.26 million during the quarter, compared to analysts’ expectations of $41.80 million. Flotek Industries had a negative return on equity of 19.79% and a negative net margin of 17.26%. On average, analysts predict that Flotek Industries Inc will post -0.52 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its holdings in Flotek Industries by 291.8% in the first quarter. BNP Paribas Arbitrage SA now owns 11,583 shares of the oil and gas company’s stock worth $38,000 after buying an additional 8,627 shares during the last quarter. Arcadia Investment Management Corp MI increased its holdings in Flotek Industries by 40.0% in the first quarter. Arcadia Investment Management Corp MI now owns 14,000 shares of the oil and gas company’s stock worth $45,000 after buying an additional 4,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Flotek Industries in the fourth quarter worth approximately $40,000. The Manufacturers Life Insurance Company acquired a new position in Flotek Industries in the first quarter worth approximately $129,000. Finally, Squarepoint Ops LLC acquired a new position in Flotek Industries in the fourth quarter worth approximately $96,000. 61.88% of the stock is owned by institutional investors and hedge funds.

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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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