Renaissance Technologies LLC Has $59,000 Stock Holdings in Flotek Industries, Inc. (NYSE:FTK)

Renaissance Technologies LLC decreased its holdings in shares of Flotek Industries, Inc. (NYSE:FTK) by 67.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,100 shares of the oil and gas company’s stock after selling 24,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Flotek Industries were worth $59,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Masters Capital Management LLC increased its stake in shares of Flotek Industries by 3.8% during the 1st quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after purchasing an additional 18,524 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Flotek Industries by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 39,695 shares during the last quarter. Finally, Sanders Morris Harris LLC acquired a new position in shares of Flotek Industries during the 1st quarter worth $223,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Roth Capital upgraded shares of Flotek Industries to a “strong-buy” rating in a research note on Thursday, July 25th. Roth Mkm began coverage on shares of Flotek Industries in a report on Thursday, July 25th. They issued a “buy” rating and a $6.50 price target for the company. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $6.75.

Flotek Industries Price Performance

Shares of Flotek Industries stock opened at $4.86 on Tuesday. Flotek Industries, Inc. has a fifty-two week low of $2.64 and a fifty-two week high of $5.61. The firm has a fifty day moving average price of $4.53 and a two-hundred day moving average price of $4.27. The company has a market cap of $143.98 million, a PE ratio of 121.38 and a beta of 1.03.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $46.15 million during the quarter, compared to the consensus estimate of $46.60 million. Flotek Industries had a net margin of 3.94% and a return on equity of 6.73%. During the same period last year, the firm earned ($0.24) EPS. Analysts expect that Flotek Industries, Inc. will post 0.27 earnings per share 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).