78,126 Shares in Flotek Industries, Inc. (NYSE:FTK) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new stake in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 78,126 shares of the oil and gas company's stock, valued at approximately $651,000. Ritholtz Wealth Management owned 0.26% of Flotek Industries as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FTK. Truist Financial Corp raised its stake in shares of 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. Bailard Inc. bought a new position in Flotek Industries during the 4th quarter valued at approximately $360,000. Charles Schwab Investment Management Inc. purchased a new stake in Flotek Industries in the 4th quarter worth approximately $148,000. Raymond James Financial Inc. bought a new stake in shares of Flotek Industries in the 4th quarter worth approximately $513,000. Finally, Alpine Woods Capital Investors LLC bought a new stake in shares of Flotek Industries in the 4th quarter worth approximately $310,000. Institutional investors own 10.90% of the company's stock.

Insiders Place Their Bets

In related news, Director Matthew Wilks purchased 13,040 shares of Flotek Industries stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average cost of $14.15 per share, for a total transaction of $184,516.00. Following the completion of the acquisition, the director now directly owns 157,390 shares of the company's stock, valued at $2,227,068.50. The trade was a 9.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 149,766 shares of company stock valued at $1,841,758. 3.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FTK shares. Alliance Global Partners assumed coverage on shares of Flotek Industries in a research report on Thursday, June 12th. They set a "buy" rating and a $19.00 price objective on the stock. Singular Research upgraded shares of Flotek Industries to a "moderate buy" rating in a report on Monday, March 17th. Northland Capmk upgraded Flotek Industries to a "hold" rating in a report on Tuesday. Northland Securities started coverage on Flotek Industries in a research report on Tuesday. They issued a "market perform" rating and a $16.00 target price for the company. Finally, Wall Street Zen lowered Flotek Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.33.

Flotek Industries Price Performance

NYSE:FTK opened at $14.38 on Thursday. The firm has a market capitalization of $429.18 million, a P/E ratio of 31.95 and a beta of 1.39. Flotek Industries, Inc. has a one year low of $3.79 and a one year high of $16.87. The company's 50-day simple moving average is $11.68 and its 200 day simple moving average is $9.56.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.11. The firm had revenue of $55.36 million for the quarter, compared to analysts' expectations of $44.50 million. Flotek Industries had a return on equity of 12.76% and a net margin of 7.09%. On average, equities research analysts expect that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Flotek Industries Profile

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).

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