Flotek Industries, Inc. $FTK Shares Bought by Algert Global LLC

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 raised its position in Flotek Industries, Inc. (NYSE:FTK - Free Report) by 195.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,490 shares of the oil and gas company's stock after purchasing an additional 20,820 shares during the quarter. Algert Global LLC owned about 0.11% of Flotek Industries worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in FTK. Tower Research Capital LLC TRC acquired a new stake in shares of Flotek Industries in the fourth quarter valued at approximately $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Flotek Industries in the fourth quarter valued at approximately $57,000. Kathmere Capital Management LLC acquired a new position in shares of Flotek Industries during the first quarter valued at approximately $85,000. Victory Capital Management Inc. acquired a new position in shares of Flotek Industries during the first quarter valued at approximately $96,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Flotek Industries during the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 10.90% of the company's stock.

Insider Buying and Selling

In related news, CEO Ryan Gillis Ezell sold 87,187 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $12.26, for a total transaction 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. This trade represents a 35.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James Bond Clement sold 45,732 shares of the firm's stock in a transaction that occurred 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 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. Company insiders own 3.02% of the company's stock.

Flotek Industries Trading Up 4.4%

Shares of NYSE:FTK opened at $12.4480 on Tuesday. The stock has a market capitalization of $371.70 million, a price-to-earnings ratio of 28.29 and a beta of 1.32. Flotek Industries, Inc. has a 1-year low of $3.79 and a 1-year high of $16.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.36 and a current ratio of 1.59. The company has a 50 day moving average price of $13.16 and a 200 day moving average price of $11.06.

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

Analyst Upgrades and Downgrades

FTK has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Flotek Industries from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 3rd. Northland Capmk upgraded shares of Flotek Industries from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Alliance Global Partners initiated coverage on shares of Flotek Industries in a research note on Thursday, June 12th. They set a "buy" rating and a $19.00 price objective on the stock. 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 note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to data from MarketBeat, Flotek Industries presently has a consensus rating of "Buy" and an average target price of $14.33.

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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