463,590 Shares in Flotek Industries, Inc. (NYSE:FTK) Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. bought a new stake in shares of Flotek Industries, Inc. (NYSE:FTK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 463,590 shares of the oil and gas company’s stock, valued at approximately $4,418,000. Hillsdale Investment Management Inc. owned 1.56% of Flotek Industries as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Flotek Industries during the 4th quarter valued at $456,000. Alpine Woods Capital Investors LLC acquired a new stake in shares of Flotek Industries during the 4th quarter valued at $310,000. Raymond James Financial Inc. acquired a new stake in shares of Flotek Industries during the 4th quarter valued at $513,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Flotek Industries during the 4th quarter valued at $148,000. Finally, Bailard Inc. acquired a new stake in shares of Flotek Industries during the 4th quarter valued at $360,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Trading Down 4.7 %

FTK stock opened at $8.67 on Friday. The firm has a market cap of $258.73 million, a PE ratio of 33.36 and a beta of 1.21. Flotek Industries, Inc. has a 1 year low of $3.13 and a 1 year high of $10.35. The company has a fifty day simple moving average of $8.60 and a 200 day simple moving average of $7.28.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Monday, March 10th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. The company had revenue of $50.76 million for the quarter, compared to the consensus estimate of $50.08 million. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, analysts forecast that Flotek Industries, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Singular Research raised shares of Flotek Industries to a “moderate buy” rating in a research note on Monday, March 17th.

Flotek Industries Company Profile

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).