Flotek Industries Sees Unusually High Options Volume (NYSE:FTK)

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Flotek Industries, Inc. (NYSE:FTK) was the target of some unusual options trading activity on Thursday. Stock investors bought 3,145 call options on the company. This is an increase of approximately 658% compared to the average volume of 415 call options.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nierenberg Investment Management Company Inc. increased its position in shares of Flotek Industries by 3.3% in the second quarter. Nierenberg Investment Management Company Inc. now owns 4,840,969 shares of the oil and gas company’s stock worth $8,375,000 after acquiring an additional 156,337 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Flotek Industries by 11.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,387,668 shares of the oil and gas company’s stock valued at $2,401,000 after acquiring an additional 144,126 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Flotek Industries by 2.8% in the second quarter. BlackRock Inc. now owns 1,040,557 shares of the oil and gas company’s stock worth $1,800,000 after buying an additional 27,860 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Flotek Industries by 6.9% in the second quarter. Geode Capital Management LLC now owns 531,007 shares of the oil and gas company’s stock worth $918,000 after buying an additional 34,322 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Flotek Industries by 27.0% in the second quarter. Bridgeway Capital Management LLC now owns 520,500 shares of the oil and gas company’s stock worth $900,000 after buying an additional 110,800 shares during the last quarter. Institutional investors and hedge funds own 30.70% of the company’s stock.

A number of research firms recently weighed in on FTK. Noble Financial reaffirmed a “buy” rating and set a $2.50 price target on shares of Flotek Industries in a report on Wednesday, November 10th. Zacks Investment Research raised shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $1.00 price objective for the company in a report on Wednesday.

FTK stock opened at $1.13 on Friday. Flotek Industries has a 52 week low of $0.53 and a 52 week high of $2.74. The company has a market capitalization of $89.97 million, a price-to-earnings ratio of -2.26 and a beta of 2.29. The firm’s 50-day moving average is $0.89 and its two-hundred day moving average is $1.28. The company has a current ratio of 2.61, a quick ratio of 2.11 and a debt-to-equity ratio of 0.10.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven, specialty chemistry and data company that serves customers across industrial, commercial and consumer markets. It operates through the following segments: Chemistry Technologies and Data Analytics. The Chemistry Technologies segment develops, manufactures, packages, distributes delivers, and markets sanitizers and disinfectants for commercial, governmental and personal consumer use and also includes specialty chemistries and logistics which enable customers to improve efficiencies in the drilling and completion of well.

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