Minerva Advisors LLC decreased its holdings in Flotek Industries Inc (NYSE:FTK) by 9.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 154,000 shares of the oil and gas company’s stock after selling 16,000 shares during the period. Minerva Advisors LLC owned approximately 0.27% of Flotek Industries worth $509,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FTK. SG Americas Securities LLC bought a new position in Flotek Industries during the 2nd quarter valued at $89,000. Creative Planning boosted its stake in Flotek Industries by 2.9% during the 2nd quarter. Creative Planning now owns 180,146 shares of the oil and gas company’s stock valued at $596,000 after acquiring an additional 5,000 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Flotek Industries during the 2nd quarter valued at $39,000. FNY Investment Advisers LLC bought a new position in Flotek Industries during the 2nd quarter valued at $33,000. Finally, WINTON GROUP Ltd boosted its stake in Flotek Industries by 2.2% during the 2nd quarter. WINTON GROUP Ltd now owns 160,200 shares of the oil and gas company’s stock valued at $530,000 after acquiring an additional 3,457 shares during the last quarter. Institutional investors own 60.78% of the company’s stock.

Shares of Flotek Industries stock traded down $0.11 during trading hours on Wednesday, reaching $1.93. The company’s stock had a trading volume of 12,824 shares, compared to its average volume of 716,709. The business’s 50 day moving average price is $2.97. The company has a current ratio of 6.62, a quick ratio of 5.44 and a debt-to-equity ratio of 0.08. Flotek Industries Inc has a one year low of $0.95 and a one year high of $4.01. The stock has a market capitalization of $114.35 million, a PE ratio of -3.41 and a beta of 3.00.

In other Flotek Industries news, Director David Nierenberg purchased 20,200 shares of Flotek Industries stock in a transaction dated Thursday, May 30th. The shares were bought at an average cost of $3.08 per share, for a total transaction of $62,216.00. Following the transaction, the director now owns 106,772 shares in the company, valued at approximately $328,857.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Chisholm sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $3.28, for a total transaction of $229,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 420,200 shares of company stock worth $1,423,616. Insiders own 7.26% of the company’s stock.

A number of research firms have recently issued reports on FTK. Zacks Investment Research downgraded shares of Flotek Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded shares of Flotek Industries from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

Flotek Industries Company Profile

Flotek Industries, Inc provides chemistry and services to the oil and gas industries in then United States and internationally. The company designs, develops, manufactures, packs, markets, distributes, and delivers reservoir-centric fluid systems, including specialty and conventional chemistries for use in oil and gas well drilling, cementing, completion, remediation, and stimulation activities, as well as use in enhanced and improved oil recovery markets under the Complex nano-Fluid, Pressure reducing Fluids, and MicroSolv brand names.

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Institutional Ownership by Quarter for Flotek Industries (NYSE:FTK)

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