Sfmg LLC purchased a new stake in shares of Flotek Industries Inc (NYSE:FTK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the oil and gas company’s stock, valued at approximately $32,000.
Several other institutional investors and hedge funds also recently made changes to their positions in FTK. Millennium Management LLC grew its holdings in shares of Flotek Industries by 1,558.1% during the fourth quarter. Millennium Management LLC now owns 1,218,601 shares of the oil and gas company’s stock worth $1,328,000 after purchasing an additional 1,145,106 shares in the last quarter. Wilen Investment Management CORP. purchased a new position in shares of Flotek Industries during the first quarter worth about $1,500,000. Deutsche Bank AG grew its holdings in shares of Flotek Industries by 203.1% during the fourth quarter. Deutsche Bank AG now owns 337,286 shares of the oil and gas company’s stock worth $366,000 after purchasing an additional 226,010 shares in the last quarter. Rutabaga Capital Management LLC MA grew its holdings in shares of Flotek Industries by 4.9% during the first quarter. Rutabaga Capital Management LLC MA now owns 1,838,585 shares of the oil and gas company’s stock worth $5,957,000 after purchasing an additional 85,963 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Flotek Industries during the second quarter worth about $89,000. Hedge funds and other institutional investors own 59.39% of the company’s stock.
Several brokerages have recently commented on FTK. ValuEngine lowered Flotek Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Zacks Investment Research lowered Flotek Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th.
Shares of NYSE:FTK traded up $0.03 during trading on Wednesday, reaching $2.09. 1,290 shares of the company traded hands, compared to its average volume of 535,746. The firm has a market capitalization of $117.13 million, a price-to-earnings ratio of -3.61 and a beta of 3.00. Flotek Industries Inc has a 52-week low of $0.95 and a 52-week high of $4.01. The company has a current ratio of 7.60, a quick ratio of 6.48 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $2.80 and its 200-day moving average is $3.13.
About Flotek Industries
Flotek Industries, Inc provides chemistry and services to the oil and gas industries in then United States and internationally. The company designs, develops, manufactures, packs, markets, distributes, and delivers reservoir-centric fluid systems, including specialty and conventional chemistries for use in oil and gas well drilling, cementing, completion, remediation, and stimulation activities, as well as use in enhanced and improved oil recovery markets under the Complex nano-Fluid, Pressure reducing Fluids, and MicroSolv brand names.
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