Hillsdale Investment Management Inc. Purchases Shares of 463,590 Flotek Industries, Inc. (NYSE:FTK)

Hillsdale Investment Management Inc. purchased a new stake in Flotek Industries, Inc. (NYSE:FTK) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 463,590 shares of the oil and gas company’s stock, valued at approximately $4,418,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in shares of Flotek Industries during the third quarter worth approximately $53,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Flotek Industries during the third quarter worth approximately $60,000. Barclays PLC acquired a new position in shares of Flotek Industries during the third quarter worth approximately $66,000. PDT Partners LLC acquired a new position in shares of Flotek Industries during the third quarter worth approximately $86,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Flotek Industries during the fourth quarter worth approximately $148,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Flotek Industries Price Performance

FTK opened at $8.67 on Friday. The company has a market cap of $258.73 million, a price-to-earnings ratio of 33.36 and a beta of 1.21. The firm has a 50 day simple moving average of $8.60 and a 200 day simple moving average of $7.28. Flotek Industries, Inc. has a fifty-two week low of $3.13 and a fifty-two week high of $10.35.

Flotek Industries (NYSE:FTK) last issued its earnings results on Monday, March 10th. The oil and gas company reported $0.14 EPS for the quarter, beating 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 firm had revenue of $50.76 million during the quarter, compared to the consensus estimate of $50.08 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. As a group, analysts expect that Flotek Industries, Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

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

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).