Renaissance Technologies LLC Boosts Stock Position in Flotek Industries, Inc. (NYSE:FTK)

Renaissance Technologies LLC raised its holdings in shares of Flotek Industries, Inc. (NYSE:FTK) by 306.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,700 shares of the oil and gas company’s stock after buying an additional 64,600 shares during the period. Renaissance Technologies LLC owned about 0.29% of Flotek Industries worth $817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FTK. Geode Capital Management LLC increased its position in shares of Flotek Industries by 108.1% during the third quarter. Geode Capital Management LLC now owns 297,483 shares of the oil and gas company’s stock worth $1,483,000 after purchasing an additional 154,497 shares in the last quarter. Barclays PLC purchased a new position in Flotek Industries in the 3rd quarter worth $66,000. Truist Financial Corp lifted its position in Flotek Industries by 3.6% during the 4th quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company’s stock worth $2,327,000 after acquiring an additional 8,500 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Flotek Industries during the fourth quarter worth about $4,418,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Flotek Industries in the fourth quarter worth $182,000. Institutional investors own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Flotek Industries Stock Up 4.1 %

Shares of NYSE:FTK opened at $7.24 on Friday. The firm’s 50 day moving average price is $7.64 and its 200 day moving average price is $7.80. The stock has a market cap of $216.04 million, a price-to-earnings ratio of 27.86 and a beta of 0.87. Flotek Industries, Inc. has a fifty-two week low of $3.26 and a fifty-two week high of $10.35.

Flotek Industries (NYSE:FTK) last issued its earnings results on Monday, March 10th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The business had revenue of $50.76 million during the quarter, compared to the consensus estimate of $50.08 million. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. During the same period in the prior year, the business posted $0.07 EPS. On average, equities analysts anticipate that Flotek Industries, Inc. will post 0.29 EPS for the current year.

Flotek Industries 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).