Cubist Systematic Strategies LLC Increases Position in Flotek Industries, Inc. $FTK

Key Points

• Cubist Systematic Strategies LLC acquired 55,543 shares of Flotek Industries, raising its ownership by 130.1% to a total of 98,248 shares valued at approximately $818,000.
• Flotek Industries reported an earnings per share of $0.16 for the most recent quarter, surpassing analyst expectations and generating revenue of $58.35 million.
• Several analysts upgraded their ratings on Flotek Industries, with a notable mention being Northland Capital Markets, which upgraded the stock to a "strong-buy" rating with a price target of $19.00.

Cubist Systematic Strategies LLC grew its position in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) by 130.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,248 shares of the oil and gas company's stock after buying an additional 55,543 shares during the quarter. Cubist Systematic Strategies LLC owned 0.33% of Flotek Industries worth $818,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Acuitas Investments LLC grew its holdings in shares of Flotek Industries by 18.6% during the first quarter. Acuitas Investments LLC now owns 321,925 shares of the oil and gas company's stock valued at $2,682,000 after buying an additional 50,584 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Flotek Industries by 71.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 145,678 shares of the oil and gas company's stock valued at $1,388,000 after buying an additional 60,504 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of Flotek Industries during the first quarter valued at approximately $1,167,000. Informed Momentum Co LLC grew its holdings in shares of Flotek Industries by 1.4% during the first quarter. Informed Momentum Co LLC now owns 100,105 shares of the oil and gas company's stock valued at $834,000 after buying an additional 1,380 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Flotek Industries by 61.9% during the fourth quarter. Northern Trust Corp now owns 99,847 shares of the oil and gas company's stock valued at $952,000 after buying an additional 38,174 shares during the last quarter. Hedge funds and other institutional investors own 10.90% of the company's stock.

Flotek Industries Stock Performance

FTK traded up $0.27 during trading on Monday, hitting $11.69. The company's stock had a trading volume of 345,577 shares, compared to its average volume of 337,861. The company has a quick ratio of 1.36, a current ratio of 1.59 and a debt-to-equity ratio of 0.55. Flotek Industries, Inc. has a one year low of $4.55 and a one year high of $16.87. The firm has a market cap of $349.03 million, a PE ratio of 26.57 and a beta of 1.06. The business's 50 day simple moving average is $12.30 and its 200-day simple moving average is $11.40.

Flotek Industries (NYSE:FTK - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. Flotek Industries had a net margin of 6.59% and a return on equity of 17.67%. The business had revenue of $58.35 million for the quarter, compared to the consensus estimate of $52.40 million. Flotek Industries has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Flotek Industries, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

FTK has been the topic of a number of recent analyst reports. Northland Capmk upgraded shares of Flotek Industries from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Alliance Global Partners initiated 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. Wall Street Zen downgraded shares of Flotek Industries from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Northland Securities upgraded shares of Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price objective on the stock in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $14.33.

Insider Activity at Flotek Industries

In other news, CEO Ryan Gillis Ezell sold 87,187 shares of the 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 of the company's stock, valued at $1,923,042.30. This represents a 35.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Bond Clement sold 45,732 shares of the 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 directly owned 95,439 shares of the company's stock, valued at approximately $1,215,892.86. This trade represents 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 currently owned by company 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).