Flotek Industries Inc (NYSE:FTK) Director David Nierenberg Buys 42,937 Shares

Flotek Industries Inc (NYSE:FTK) Director David Nierenberg purchased 42,937 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $2.51 per share, with a total value of $107,771.87. Following the completion of the acquisition, the director now directly owns 156,337 shares in the company, valued at $392,405.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

David Nierenberg also recently made the following trade(s):

  • On Thursday, September 10th, David Nierenberg purchased 12,200 shares of Flotek Industries stock. The shares were purchased at an average cost of $2.48 per share, with a total value of $30,256.00.
  • On Tuesday, September 8th, David Nierenberg purchased 11,743 shares of Flotek Industries stock. The shares were purchased at an average cost of $2.40 per share, with a total value of $28,183.20.
  • On Wednesday, September 2nd, David Nierenberg purchased 145,250 shares of Flotek Industries stock. The shares were purchased at an average cost of $2.40 per share, with a total value of $348,600.00.

Shares of FTK stock opened at $2.60 on Wednesday. Flotek Industries Inc has a 12-month low of $0.66 and a 12-month high of $2.88. The company has a market capitalization of $181.12 million, a P/E ratio of -1.22 and a beta of 3.18. The firm has a 50-day moving average price of $1.95 and a 200 day moving average price of $1.29. The company has a quick ratio of 3.61, a current ratio of 4.69 and a debt-to-equity ratio of 0.03.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $8.88 million during the quarter. Flotek Industries had a negative net margin of 178.19% and a negative return on equity of 29.06%.

A number of institutional investors and hedge funds have recently bought and sold shares of FTK. BlackRock Inc. increased its position in Flotek Industries by 1.2% in the 1st quarter. BlackRock Inc. now owns 3,827,188 shares of the oil and gas company’s stock valued at $3,406,000 after acquiring an additional 45,361 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Flotek Industries during the 1st quarter worth approximately $59,000. State Street Corp boosted its stake in Flotek Industries by 3.2% during the 1st quarter. State Street Corp now owns 1,049,828 shares of the oil and gas company’s stock worth $934,000 after acquiring an additional 32,125 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in Flotek Industries by 106.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 63,798 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 32,864 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Flotek Industries by 7.0% during the 1st quarter. Geode Capital Management LLC now owns 751,595 shares of the oil and gas company’s stock worth $668,000 after acquiring an additional 48,861 shares during the last quarter. Hedge funds and other institutional investors own 34.72% of the company’s stock.

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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Insider Buying and Selling by Quarter for Flotek Industries (NYSE:FTK)

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