Insider Selling: Flotek Industries (NYSE:FTK) Director Sells 66,956 Shares of Stock

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) Director Harshavardhan Agadi sold 66,956 shares of the firm's stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $14.71, for a total value of $984,922.76. Following the completion of the sale, the director directly owned 197,265 shares in the company, valued at $2,901,768.15. The trade was a 25.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Flotek Industries Trading Up 0.1%

NYSE:FTK traded up $0.02 during trading hours on Friday, hitting $14.86. The company had a trading volume of 325,786 shares, compared to its average volume of 406,218. The stock has a 50-day moving average price of $14.81 and a 200 day moving average price of $13.67. Flotek Industries, Inc. has a 52 week low of $6.05 and a 52 week high of $18.96. 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 company has a market capitalization of $446.51 million, a PE ratio of 33.76 and a beta of 1.17.

Flotek Industries (NYSE:FTK - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. The business had revenue of $56.03 million for the quarter, compared to analysts' expectations of $52.90 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. On average, equities research analysts predict that Flotek Industries, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Trading of Flotek Industries

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of Flotek Industries by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company's stock valued at $327,000 after acquiring an additional 770 shares during the last quarter. Informed Momentum Co LLC lifted its stake in shares of Flotek Industries by 1.4% in the 1st quarter. Informed Momentum Co LLC now owns 100,105 shares of the oil and gas company's stock valued at $834,000 after purchasing an additional 1,380 shares during the last quarter. Jefferies Financial Group Inc. boosted its holdings in shares of Flotek Industries by 3.2% in the 1st quarter. Jefferies Financial Group Inc. now owns 51,581 shares of the oil and gas company's stock worth $430,000 after purchasing an additional 1,581 shares during the period. Ritholtz Wealth Management increased its position in shares of Flotek Industries by 3.7% during the 2nd quarter. Ritholtz Wealth Management now owns 81,027 shares of the oil and gas company's stock valued at $1,196,000 after purchasing an additional 2,901 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Flotek Industries during the 2nd quarter valued at approximately $50,000. 10.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FTK has been the subject of a number of analyst reports. Northland Capmk raised Flotek Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Northland Securities raised Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price objective on the stock in a research report on Wednesday, August 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Flotek Industries in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Flotek Industries from a "hold" rating to a "buy" rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Flotek Industries has an average rating of "Buy" and a consensus target price of $17.50.

Check Out Our Latest Report on FTK

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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