Hillsdale Investment Management Inc. Invests $4.42 Million in Flotek Industries, Inc. (NYSE:FTK)

Hillsdale Investment Management Inc. purchased a new position in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 463,590 shares of the oil and gas company's stock, valued at approximately $4,418,000. Hillsdale Investment Management Inc. owned approximately 1.56% of Flotek Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in FTK. Geode Capital Management LLC increased its position in Flotek Industries by 108.1% during the 3rd 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. Acuitas Investments LLC acquired a new stake in shares of Flotek Industries during the 4th quarter worth about $2,586,000. Truist Financial Corp grew its holdings in shares of Flotek Industries by 3.6% during the fourth quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company's stock worth $2,327,000 after buying an additional 8,500 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Flotek Industries during the fourth quarter worth about $513,000. Finally, Virtu Financial LLC acquired a new position in shares of Flotek Industries in the fourth quarter valued at approximately $456,000. 10.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Singular Research upgraded shares of Flotek Industries to a "moderate buy" rating in a research report on Monday, March 17th.

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Flotek Industries Stock Performance

NYSE FTK traded down $0.15 during trading hours on Wednesday, hitting $8.54. 220,468 shares of the company's stock were exchanged, compared to its average volume of 144,235. The business's 50 day moving average is $8.60 and its 200-day moving average is $7.41. Flotek Industries, Inc. has a 12-month low of $3.13 and a 12-month high of $10.35. The firm has a market capitalization of $254.85 million, a P/E ratio of 32.86 and a beta of 1.21.

Flotek Industries (NYSE:FTK - Get Free Report) last announced its quarterly earnings data on Monday, March 10th. The oil and gas company reported $0.14 earnings per share 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 business had revenue of $50.76 million for the quarter, compared to analyst estimates of $50.08 million. During the same period in the prior year, the firm posted $0.07 EPS. As a group, equities research analysts anticipate that Flotek Industries, Inc. will post 0.29 EPS for the current fiscal 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).