Cetera Investment Advisers Makes New Investment in Flotek Industries, Inc. $FTK

Key Points

• Cetera Investment Advisers has acquired a new stake in Flotek Industries, purchasing 75,402 shares worth approximately $628,000, which represents about 0.25% of the company.
• Recent insider trading shows CFO James Bond Clement and CEO Ryan Gillis Ezell sold significant portions of their shares, reducing their ownership by 32.39% and 35.73%, respectively.
• Flotek Industries recently reported earnings of $0.16 EPS, exceeding analysts' estimates, along with a revenue of $58.35 million for the quarter, which was above expectations.

Cetera Investment Advisers bought a new position in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 75,402 shares of the oil and gas company's stock, valued at approximately $628,000. Cetera Investment Advisers owned 0.25% of Flotek Industries as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in Flotek Industries during the fourth quarter worth about $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Flotek Industries during the fourth quarter worth about $57,000. Kathmere Capital Management LLC acquired a new position in Flotek Industries during the first quarter worth about $85,000. Balyasny Asset Management L.P. acquired a new position in Flotek Industries during the fourth quarter worth about $99,000. Finally, Algert Global LLC acquired a new position in Flotek Industries during the fourth quarter worth about $102,000. 10.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Northland Securities upgraded Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price target for the company in a research report on Wednesday, August 6th. Wall Street Zen lowered Flotek Industries from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 3rd. Alliance Global Partners assumed coverage on Flotek Industries in a research report on Thursday, June 12th. They issued a "buy" rating and a $19.00 price target for the company. Finally, Northland Capmk upgraded Flotek Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, Flotek Industries currently has a consensus rating of "Buy" and an average price target of $14.33.

Flotek Industries Stock Up 3.1%

NYSE FTK traded up $0.35 during trading on Wednesday, reaching $11.51. 383,675 shares of the company's stock were exchanged, compared to its average volume of 481,386. Flotek Industries, Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $16.87. The firm has a market capitalization of $343.69 million, a PE ratio of 26.16 and a beta of 1.32. The company has a current ratio of 1.59, a quick ratio of 1.36 and a debt-to-equity ratio of 0.55. The company's fifty day simple moving average is $13.41 and its 200-day simple moving average is $10.97.

Flotek Industries (NYSE:FTK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Flotek Industries had a return on equity of 17.67% and a net margin of 6.59%.The firm had revenue of $58.35 million during the quarter, compared to analyst estimates of $52.40 million. Flotek Industries has set its FY 2025 guidance at EPS. Sell-side analysts predict that Flotek Industries, Inc. will post 0.29 EPS for the current year.

Insider Activity

In other news, CEO Ryan Gillis Ezell sold 87,187 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $12.26, for a total value of $1,068,912.62. Following the completion of the sale, the chief executive officer directly owned 156,855 shares in the company, valued at approximately $1,923,042.30. The trade was a 35.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Bond Clement sold 45,732 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $12.74, for a total transaction of $582,625.68. Following the completion of the sale, the chief financial officer owned 95,439 shares of the company's stock, valued at $1,215,892.86. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.02% of the stock is owned by insiders.

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).