Navellier & Associates Inc. Invests $333,000 in Flotek Industries, Inc. (NYSE:FTK)

Navellier & Associates Inc. bought a new stake in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 40,000 shares of the oil and gas company's stock, valued at approximately $333,000. Navellier & Associates Inc. owned about 0.13% of Flotek Industries as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royce & Associates LP acquired a new position in Flotek Industries during the 1st quarter valued at approximately $1,167,000. EAM Investors LLC acquired a new stake in shares of Flotek Industries in the fourth quarter worth $941,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flotek Industries in the fourth quarter worth $826,000. Ritholtz Wealth Management acquired a new stake in Flotek Industries during the first quarter valued at $651,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Flotek Industries during the first quarter valued at $645,000. Hedge funds and other institutional investors own 10.90% of the company's stock.

Insider Transactions at Flotek Industries

In other news, Director Matthew Wilks purchased 103,514 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average price of $12.24 per share, for a total transaction of $1,267,011.36. Following the completion of the purchase, the director directly owned 144,350 shares of the company's stock, valued at $1,766,844. The trade was a 253.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 149,766 shares of company stock valued at $1,841,758 in the last ninety days. 3.02% of the stock is owned by insiders.

Flotek Industries Price Performance

Shares of FTK opened at $12.38 on Friday. The stock has a market cap of $369.44 million, a PE ratio of 27.50 and a beta of 1.36. The firm has a 50-day simple moving average of $14.39 and a two-hundred day simple moving average of $10.55. Flotek Industries, Inc. has a 1-year low of $3.79 and a 1-year high of $16.87.

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

Analysts Set New Price Targets

FTK has been the topic of several recent analyst reports. Wall Street Zen raised shares of Flotek Industries from a "buy" rating to a "strong-buy" rating in a report on Saturday. Alliance Global Partners began coverage on shares of Flotek Industries in a research note on Thursday, June 12th. They issued a "buy" rating and a $19.00 price target on the stock. Northland Securities began coverage on shares of Flotek Industries in a research note on Tuesday, June 17th. They set a "market perform" rating and a $16.00 target price on the stock. Finally, Northland Capmk raised shares of Flotek Industries to a "hold" rating in a research note on Tuesday, June 17th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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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