Insider Buying: Flotek Industries Inc (NYSE:FTK) Director Purchases 61,000 Shares of Stock

Flotek Industries Inc (NYSE:FTK) Director David Nierenberg bought 61,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of $2.30 per share, for a total transaction of $140,300.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Thursday, September 12th, David Nierenberg bought 95,000 shares of Flotek Industries stock. The shares were bought at an average price of $2.45 per share, for a total transaction of $232,750.00.

FTK traded up $0.04 on Thursday, hitting $2.49. 910,100 shares of the company were exchanged, compared to its average volume of 685,728. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.48 and a current ratio of 7.60. The business’s fifty day moving average is $2.35 and its 200 day moving average is $3.05. Flotek Industries Inc has a fifty-two week low of $0.95 and a fifty-two week high of $4.01. The firm has a market capitalization of $141.36 million, a P/E ratio of -4.29 and a beta of 3.13.



Flotek Industries (NYSE:FTK) last issued its earnings results on Wednesday, August 7th. The oil and gas company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.08). Flotek Industries had a negative return on equity of 15.73% and a net margin of 11.97%. The company had revenue of $34.69 million for the quarter, compared to analyst estimates of $45.20 million. Analysts forecast that Flotek Industries Inc will post -0.84 EPS for the current fiscal year.

FTK has been the topic of several recent analyst reports. ValuEngine upgraded shares of Flotek Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Zacks Investment Research lowered shares of Flotek Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Flotek Industries by 32.2% in the second quarter. Vanguard Group Inc. now owns 2,796,685 shares of the oil and gas company’s stock valued at $9,257,000 after purchasing an additional 681,679 shares during the last quarter. Invesco Ltd. grew its position in shares of Flotek Industries by 1.5% in the second quarter. Invesco Ltd. now owns 2,484,532 shares of the oil and gas company’s stock valued at $8,224,000 after purchasing an additional 35,591 shares during the last quarter. Rutabaga Capital Management LLC MA grew its position in shares of Flotek Industries by 4.9% in the first quarter. Rutabaga Capital Management LLC MA now owns 1,838,585 shares of the oil and gas company’s stock valued at $5,957,000 after purchasing an additional 85,963 shares during the last quarter. Northern Right Capital Management L.P. grew its position in shares of Flotek Industries by 51.1% in the second quarter. Northern Right Capital Management L.P. now owns 851,200 shares of the oil and gas company’s stock valued at $2,817,000 after purchasing an additional 288,026 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Flotek Industries by 2.1% in the second quarter. Northern Trust Corp now owns 659,668 shares of the oil and gas company’s stock valued at $2,185,000 after purchasing an additional 13,479 shares during the last quarter. Institutional investors and hedge funds own 58.15% of the company’s stock.

Flotek Industries Company Profile

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.

Featured Article: What are trading strategies for the 52-week high/low?

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

Receive News & Ratings for Flotek Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flotek Industries and related companies with MarketBeat.com's FREE daily email newsletter.