S Squared Technology LLC Sells 39,405 Shares of Flotek Industries, Inc. $FTK

S Squared Technology LLC lessened its stake in shares of Flotek Industries, Inc. (NYSE:FTK) by 15.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 221,072 shares of the oil and gas company’s stock after selling 39,405 shares during the period. Flotek Industries accounts for 1.4% of S Squared Technology LLC’s holdings, making the stock its 24th biggest position. S Squared Technology LLC’s holdings in Flotek Industries were worth $3,263,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Royce & Associates LP purchased a new stake in Flotek Industries in the 1st quarter worth approximately $1,167,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Flotek Industries in the first quarter worth approximately $645,000. Cetera Investment Advisers bought a new position in shares of Flotek Industries in the first quarter worth approximately $628,000. Cubist Systematic Strategies LLC increased its stake in shares of Flotek Industries by 130.1% in the first quarter. Cubist Systematic Strategies LLC now owns 98,248 shares of the oil and gas company’s stock worth $818,000 after purchasing an additional 55,543 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Flotek Industries by 88.5% during the 1st quarter. Jane Street Group LLC now owns 100,151 shares of the oil and gas company’s stock valued at $834,000 after purchasing an additional 47,018 shares during the period. 10.90% of the stock is owned by hedge funds and other institutional investors.

Flotek Industries Price Performance

NYSE:FTK opened at $15.56 on Monday. The business’s 50-day moving average is $14.54 and its 200 day moving average is $13.54. Flotek Industries, Inc. has a 12 month low of $6.05 and a 12 month high of $18.96. The company has a market capitalization of $464.44 million, a P/E ratio of 35.35 and a beta of 1.17. The company has a current ratio of 1.59, a quick ratio of 1.36 and a debt-to-equity ratio of 0.55.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $56.03 million for the quarter, compared to the consensus estimate 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 forecast that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Flotek Industries

In other news, CFO James Bond Clement sold 45,732 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $12.74, for a total value of $582,625.68. Following the sale, the chief financial officer directly owned 95,439 shares in the company, valued at $1,215,892.86. The trade was a 32.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Gillis Ezell sold 87,187 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $12.26, for a total transaction of $1,068,912.62. Following the sale, the chief executive officer owned 156,855 shares in the company, valued at $1,923,042.30. This represents a 35.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FTK shares. Northland Securities raised shares of Flotek Industries from a “market perform” rating to an “outperform” rating and set a $16.00 target price for the company in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Flotek Industries in a research report on Wednesday, October 8th. Wall Street Zen upgraded Flotek Industries from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Northland Capmk raised Flotek Industries from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $17.50.

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).