Ancora Advisors LLC Buys 40,200 Shares of Flotek Industries, Inc. (NYSE:FTK)

Ancora Advisors LLC increased its holdings in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) by 66.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 100,800 shares of the oil and gas company's stock after purchasing an additional 40,200 shares during the quarter. Ancora Advisors LLC owned 0.34% of Flotek Industries worth $961,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of FTK. Tower Research Capital LLC TRC bought a new stake in shares of Flotek Industries in the fourth quarter valued at about $42,000. Wilmington Savings Fund Society FSB bought a new stake in Flotek Industries in the 3rd quarter valued at $60,000. Barclays PLC acquired a new stake in shares of Flotek Industries during the 3rd quarter worth about $66,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Flotek Industries during the 4th quarter worth about $148,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Flotek Industries in the 4th quarter valued at about $182,000. 10.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Flotek Industries Stock Up 6.4 %

Shares of NYSE:FTK traded up $0.71 during midday trading on Friday, hitting $11.82. The stock had a trading volume of 510,486 shares, compared to its average volume of 173,213. The company's 50-day moving average price is $7.81 and its 200-day moving average price is $8.00. Flotek Industries, Inc. has a fifty-two week low of $3.30 and a fifty-two week high of $12.23. The company has a market capitalization of $352.56 million, a P/E ratio of 45.46 and a beta of 1.00.

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

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).