Algert Global LLC Raises Holdings in Flotek Industries, Inc. $FTK

Key Points

• Algert Global LLC significantly increased its stake in Flotek Industries by 195.1% in the first quarter, acquiring over 31,490 shares valued at approximately $262,000.
• CEO Ryan Gillis Ezell and CFO James Bond Clement both sold shares, resulting in a 35.73% and 32.39% decrease in their ownership, respectively.
• Flotek Industries' stock is trading at around $12.45, with a market capitalization of $371.70 million, while analysts have a consensus rating of "Buy" and an average target price of $14.33.

Algert Global LLC lifted its holdings in Flotek Industries, Inc. (NYSE:FTK - Free Report) by 195.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,490 shares of the oil and gas company's stock after buying an additional 20,820 shares during the period. Algert Global LLC owned approximately 0.11% of Flotek Industries worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. American Century Companies Inc. purchased a new stake in shares of Flotek Industries in the first quarter valued at about $258,000. Informed Momentum Co LLC grew its holdings in shares of Flotek Industries by 1.4% in 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 purchasing an additional 1,380 shares during the period. Bard Associates Inc. purchased a new stake in shares of Flotek Industries in the first quarter valued at about $111,000. Jefferies Financial Group Inc. grew its holdings in shares of Flotek Industries by 3.2% in the first quarter. Jefferies Financial Group Inc. now owns 51,581 shares of the oil and gas company's stock valued at $430,000 after purchasing an additional 1,581 shares during the period. Finally, Navellier & Associates Inc. purchased a new stake in shares of Flotek Industries in the first quarter valued at about $333,000. 10.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Flotek Industries

In related news, CFO James Bond Clement sold 45,732 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 95,439 shares in the company, valued at $1,215,892.86. This trade represents a 32.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Gillis Ezell sold 87,187 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 156,855 shares of the company's stock, valued at $1,923,042.30. This trade represents a 35.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Alliance Global Partners assumed coverage on shares of Flotek Industries in a report on Thursday, June 12th. They issued a "buy" rating and a $19.00 price objective for the company. Northland Capmk raised shares of Flotek Industries from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Flotek Industries from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 3rd. 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 report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $14.33.

Flotek Industries Trading Down 0.0%

FTK traded down $0.01 on Friday, hitting $12.14. The company had a trading volume of 226,086 shares, compared to its average volume of 476,322. The firm has a market cap of $362.35 million, a P/E ratio of 27.58 and a beta of 1.06. Flotek Industries, Inc. has a 1 year low of $3.79 and a 1 year high of $16.87. The company's fifty day moving average price is $12.99 and its 200 day moving average price is $11.15. The company has a current ratio of 1.59, a quick ratio of 1.36 and a debt-to-equity ratio of 0.55.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $58.35 million for the quarter, compared to analyst estimates of $52.40 million. Flotek Industries has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Flotek Industries, Inc. will post 0.29 earnings per share for the current year.

About Flotek Industries

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).