Sanders Morris Harris LLC Acquires Shares of 59,589 Flotek Industries, Inc. (NYSE:FTK)

Sanders Morris Harris LLC acquired a new stake in Flotek Industries, Inc. (NYSE:FTK) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 59,589 shares of the oil and gas company’s stock, valued at approximately $223,000. Sanders Morris Harris LLC owned approximately 0.20% of Flotek Industries at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FTK. Masters Capital Management LLC lifted its stake in shares of Flotek Industries by 44.4% in the fourth quarter. Masters Capital Management LLC now owns 481,476 shares of the oil and gas company’s stock valued at $1,887,000 after buying an additional 148,140 shares in the last quarter. Segment Wealth Management LLC bought a new position in shares of Flotek Industries during the fourth quarter valued at about $241,000. Finally, Pingora Partners LLC bought a new position in shares of Flotek Industries during the fourth quarter valued at about $46,000. 10.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on FTK shares. TheStreet raised shares of Flotek Industries from a “d” rating to a “c-” rating in a research report on Wednesday, March 13th. Alliance Global Partners started coverage on shares of Flotek Industries in a research report on Monday, April 29th. They set a “buy” rating and a $7.00 price target on the stock.

Flotek Industries Stock Performance

FTK stock traded up $0.12 during mid-day trading on Friday, hitting $4.38. The company had a trading volume of 60,820 shares, compared to its average volume of 89,278. The firm has a market cap of $129.91 million, a PE ratio of 109.47 and a beta of 1.07. Flotek Industries, Inc. has a 12 month low of $2.64 and a 12 month high of $5.70. The stock’s fifty day moving average price is $3.92 and its two-hundred day moving average price is $3.54.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported $0.05 EPS for the quarter. The business had revenue of $40.37 million for the quarter. Flotek Industries had a net margin of 2.73% and a return on equity of 1.77%.

About Flotek Industries

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).