Royce & Associates LP Invests $1.17 Million in Flotek Industries, Inc. (NYSE:FTK)

Key Points

• Royce & Associates LP acquired 140,041 shares of Flotek Industries, valued at approximately $1,167,000, representing 0.47% ownership as of the latest SEC filing.
• Flotek Industries reported $0.17 earnings per share for the last quarter, significantly surpassing analysts' expectations of $0.06, with revenues also exceeding estimates at $55.36 million.
• Analysts have issued mixed ratings for Flotek Industries, with a consensus rating of "Moderate Buy" and an average price target of $14.33.

Royce & Associates LP purchased a new position in Flotek Industries, Inc. (NYSE:FTK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 140,041 shares of the oil and gas company's stock, valued at approximately $1,167,000. Royce & Associates LP owned about 0.47% of Flotek Industries as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Flotek Industries in the first quarter valued at $645,000. Victory Capital Management Inc. acquired a new position in Flotek Industries in the first quarter valued at $96,000. Kathmere Capital Management LLC acquired a new position in Flotek Industries in the first quarter valued at $85,000. Acuitas Investments LLC increased its stake in Flotek Industries by 18.6% in 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 purchasing an additional 50,584 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in Flotek Industries in the first quarter valued at $651,000. 10.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Flotek Industries

In related news, Director Matthew Wilks bought 13,040 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was bought at an average price of $14.15 per share, with a total value of $184,516.00. Following the completion of the transaction, the director directly owned 157,390 shares of the company's stock, valued at approximately $2,227,068.50. This represents a 9.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 149,766 shares of company stock worth $1,841,758 over the last ninety days. 3.02% of the stock is currently owned by insiders.

Flotek Industries Price Performance

FTK stock traded down $0.74 during trading on Friday, reaching $11.31. 154,986 shares of the stock traded hands, compared to its average volume of 373,288. The business's 50 day moving average price is $14.13 and its 200-day moving average price is $10.63. Flotek Industries, Inc. has a 52-week low of $3.79 and a 52-week high of $16.87. The firm has a market capitalization of $337.69 million, a PE ratio of 25.13 and a beta of 1.36.

Flotek Industries (NYSE:FTK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.11. Flotek Industries had a return on equity of 12.76% and a net margin of 7.09%. The firm had revenue of $55.36 million during the quarter, compared to the consensus estimate of $44.50 million. On average, equities research analysts predict that Flotek Industries, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen upgraded Flotek Industries from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Northland Securities assumed coverage on Flotek Industries in a research note on Tuesday, June 17th. They issued a "market perform" rating and a $16.00 target price for the company. Northland Capmk upgraded Flotek Industries to a "hold" rating in a research note on Tuesday, June 17th. Finally, Alliance Global Partners began coverage on Flotek Industries in a research report on Thursday, June 12th. They set a "buy" rating and a $19.00 price target for the company. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flotek Industries presently has a consensus rating of "Moderate Buy" and an average 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).