Flotek Industries, Inc. (NYSE:FTK – Get Free Report) CFO James Bond Clement sold 12,554 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $20.08, for a total transaction of $252,084.32. Following the completion of the transaction, the chief financial officer owned 115,324 shares in the company, valued at approximately $2,315,705.92. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
James Bond Clement also recently made the following trade(s):
- On Tuesday, February 24th, James Bond Clement sold 6,299 shares of Flotek Industries stock. The stock was sold at an average price of $16.02, for a total transaction of $100,909.98.
Flotek Industries Stock Up 1.5%
Shares of FTK stock traded up $0.30 on Monday, hitting $19.91. The stock had a trading volume of 286,337 shares, compared to its average volume of 293,395. Flotek Industries, Inc. has a one year low of $10.95 and a one year high of $20.63. The business has a 50 day moving average price of $16.78 and a 200 day moving average price of $16.61. The company has a market cap of $720.38 million, a PE ratio of 25.53 and a beta of 1.39. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.
Hedge Funds Weigh In On Flotek Industries
Several large investors have recently modified their holdings of the business. Quarry LP raised its position in Flotek Industries by 97.2% in the third quarter. Quarry LP now owns 3,855 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 1,900 shares during the period. New York State Common Retirement Fund purchased a new position in Flotek Industries during the 2nd quarter valued at about $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Flotek Industries in the 2nd quarter valued at about $115,000. Deutsche Bank AG purchased a new stake in Flotek Industries during the fourth quarter worth about $150,000. Finally, Mangrove Partners IM LLC acquired a new stake in shares of Flotek Industries during the fourth quarter worth about $177,000. Institutional investors and hedge funds own 10.90% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the stock. Lake Street Capital started coverage on Flotek Industries in a report on Thursday, January 29th. They set a “buy” rating and a $25.00 target price for the company. Zacks Research cut shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings raised Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.33.
About Flotek Industries
Flotek Industries, Inc (NYSE: FTK) is a Houston-based oilfield services provider specializing in innovative chemical technologies for the upstream energy sector. The company develops, manufactures and markets specialty drilling fluids, completion fluids and production chemicals that enhance drilling efficiency, optimize well performance and mitigate operational risks. Flotek’s solutions are designed to improve drilling rates of penetration, reduce nonproductive time and address challenging downhole environments, including high-pressure/high-temperature wells and sour service conditions.
Flotek’s operations are organized into three core business segments: Drilling & Completion Fluids, Production Chemicals & Process Management, and Water Solutions.
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