Flotek Industries, Inc. (NYSE:FTK) was the target of unusually large options trading on Wednesday. Stock investors acquired 4,131 call options on the company. This represents an increase of 1,744% compared to the average daily volume of 224 call options.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTK. Aperio Group LLC increased its holdings in shares of Flotek Industries by 16.0% during the second quarter. Aperio Group LLC now owns 19,651 shares of the oil and gas company’s stock valued at $176,000 after acquiring an additional 2,716 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Flotek Industries by 17.1% during the second quarter. Russell Investments Group Ltd. now owns 145,346 shares of the oil and gas company’s stock valued at $1,299,000 after acquiring an additional 21,248 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Flotek Industries by 5.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 12,790 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 700 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Flotek Industries by 6.1% during the second quarter. Great West Life Assurance Co. Can now owns 79,435 shares of the oil and gas company’s stock valued at $709,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Flotek Industries by 0.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 235,800 shares of the oil and gas company’s stock valued at $2,109,000 after acquiring an additional 1,937 shares in the last quarter. Hedge funds and other institutional investors own 84.91% of the company’s stock.
Separately, Zacks Investment Research downgraded Flotek Industries from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 20th.
Shares of Flotek Industries (FTK) opened at $5.28 on Monday. The firm has a market capitalization of $300.04, a P/E ratio of -9.43 and a beta of 1.70. Flotek Industries has a 1-year low of $4.14 and a 1-year high of $14.51.
Flotek Industries (NYSE:FTK) last issued its earnings results on Wednesday, November 8th. The oil and gas company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.05). The business had revenue of $79.46 million during the quarter, compared to the consensus estimate of $85.10 million. Flotek Industries had a negative return on equity of 1.64% and a negative net margin of 10.41%. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. equities analysts expect that Flotek Industries will post -0.12 EPS for the current fiscal year.
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About Flotek Industries
Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).
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