Renaissance Technologies LLC increased its position in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) by 306.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,700 shares of the oil and gas company's stock after purchasing an additional 64,600 shares during the period. Renaissance Technologies LLC owned approximately 0.29% of Flotek Industries worth $817,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flotek Industries in the third quarter valued at approximately $60,000. Barclays PLC acquired a new position in Flotek Industries in the 3rd quarter valued at $66,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Flotek Industries during the 4th quarter worth $148,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Flotek Industries during the fourth quarter worth $182,000. Finally, JPMorgan Chase & Co. grew its position in shares of Flotek Industries by 4,017.3% in the fourth quarter. JPMorgan Chase & Co. now owns 31,497 shares of the oil and gas company's stock valued at $300,000 after purchasing an additional 30,732 shares during the period. Institutional investors and hedge funds own 10.90% of the company's stock.
Flotek Industries Stock Performance
Shares of NYSE FTK traded up $0.09 during midday trading on Friday, reaching $7.28. 83,705 shares of the company's stock were exchanged, compared to its average volume of 161,497. Flotek Industries, Inc. has a 52-week low of $3.26 and a 52-week high of $10.35. The stock has a market capitalization of $217.14 million, a PE ratio of 28.00 and a beta of 0.87. The business's fifty day moving average price is $7.63 and its two-hundred day moving average price is $7.86.
Flotek Industries (NYSE:FTK - Get Free Report) last issued its earnings results on Monday, March 10th. The oil and gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The company had revenue of $50.76 million during the quarter, compared to analyst estimates of $50.08 million. During the same quarter last year, the firm earned $0.07 EPS. Analysts predict that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Separately, Singular Research raised Flotek Industries to a "moderate buy" rating in a research note on Monday, March 17th.
Read Our Latest Research Report on FTK
Flotek Industries Company Profile
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Free Report)
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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