Squarepoint Ops LLC Invests $206,000 in Flotek Industries, Inc. (NYSE:FTK)

Squarepoint Ops LLC acquired a new position in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,619 shares of the oil and gas company's stock, valued at approximately $206,000. Squarepoint Ops LLC owned 0.07% of Flotek Industries as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. bought a new position in shares of Flotek Industries during the fourth quarter worth about $4,418,000. Geode Capital Management LLC grew its holdings in shares of Flotek Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 302,539 shares of the oil and gas company's stock valued at $2,885,000 after acquiring an additional 5,056 shares in the last quarter. Acuitas Investments LLC acquired a new stake in shares of Flotek Industries in the fourth quarter valued at about $2,586,000. Truist Financial Corp raised its holdings in Flotek Industries by 3.6% during the fourth quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company's stock worth $2,327,000 after acquiring an additional 8,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Flotek Industries by 71.0% in 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 purchasing an additional 60,504 shares in the last quarter. 10.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Singular Research upgraded shares of Flotek Industries to a "moderate buy" rating in a report on Monday, March 17th.

Flotek Industries Stock Performance

Shares of FTK stock opened at $14.40 on Monday. The company has a market capitalization of $429.87 million, a price-to-earnings ratio of 55.39 and a beta of 1.39. Flotek Industries, Inc. has a 52 week low of $3.79 and a 52 week high of $16.57. The company has a 50-day simple moving average of $10.29 and a 200 day simple moving average of $9.17.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.11. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The company had revenue of $55.36 million for the quarter, compared to analysts' expectations of $44.50 million. Sell-side analysts forecast that Flotek Industries, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Matthew Wilks purchased 103,514 shares of Flotek Industries stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $12.24 per share, for a total transaction of $1,267,011.36. Following the purchase, the director now owns 144,350 shares in the company, valued at approximately $1,766,844. This trade represents a 253.49% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have bought 149,766 shares of company stock worth $1,841,758. Corporate insiders own 3.02% of the company's stock.

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).

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