Minerva Advisors LLC Decreases Position in Flotek Industries Inc (NYSE:FTK)
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.
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.
Further Reading: Candlestick
Receive News & Ratings for Flotek Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flotek Industries and related companies with MarketBeat.com's FREE daily email newsletter.