Flotek Industries (NYSE:FTK) CFO James Bond Clement Sells 45,732 Shares

Key Points

• Flotek Industries CFO James Bond Clement sold 45,732 shares of the company's stock for a total value of approximately $582,626, representing a 32.39% decrease in ownership.
• The company's stock price fell 5.0% recently, trading at $12.03, with a twelve-month trading range between $3.79 and $16.87.
• Flotek Industries reported $0.16 earnings per share for the last quarter, exceeding analysts' expectations, and has received a mix of upgrades and downgrades from research analysts.

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) CFO James Bond Clement sold 45,732 shares of the business'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 transaction, the chief financial officer owned 95,439 shares in the company, valued at $1,215,892.86. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Flotek Industries Stock Performance

NYSE FTK traded down $0.2350 during trading on Tuesday, reaching $11.1750. 369,213 shares of the company's stock were exchanged, compared to its average volume of 488,615. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.59 and a quick ratio of 1.36. The business has a 50 day moving average price of $13.51 and a 200-day moving average price of $10.96. The stock has a market capitalization of $333.69 million, a P/E ratio of 25.40 and a beta of 1.32. Flotek Industries, Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $16.87.

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

Analyst Ratings Changes

FTK has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Flotek Industries from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 3rd. Northland Capmk upgraded shares of Flotek Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Alliance Global Partners began coverage on Flotek Industries in a research note on Thursday, June 12th. They set a "buy" rating and a $19.00 target price on the stock. Finally, Northland Securities raised Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price target for the company in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $14.33.

Institutional Trading of Flotek Industries

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in Flotek Industries by 55.9% in the second quarter. Geode Capital Management LLC now owns 485,413 shares of the oil and gas company's stock valued at $7,167,000 after purchasing an additional 174,144 shares in the last quarter. Acuitas Investments LLC raised its position in shares of Flotek Industries by 18.6% in the 1st quarter. Acuitas Investments LLC now owns 321,925 shares of the oil and gas company's stock valued at $2,682,000 after buying an additional 50,584 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Flotek Industries during the 2nd quarter worth approximately $4,436,000. Truist Financial Corp lifted its holdings in shares of Flotek Industries by 11.7% during the 2nd quarter. Truist Financial Corp now owns 263,182 shares of the oil and gas company's stock worth $3,885,000 after acquiring an additional 27,473 shares during the period. Finally, S Squared Technology LLC acquired a new stake in shares of Flotek Industries during the 1st quarter worth approximately $2,170,000. 10.90% of the stock is owned by institutional investors and hedge funds.

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).