Flotek Industries, Inc. (NYSE:FTK) Short Interest Down 7.3% in January

Flotek Industries, Inc. (NYSE:FTK) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 609,500 shares, a decrease of 7.3% from the January 15th total of 657,800 shares. Based on an average daily volume of 245,400 shares, the short-interest ratio is presently 2.5 days. Approximately 2.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Roth Mkm increased their price objective on Flotek Industries from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Hedge Funds Weigh In On Flotek Industries

A number of hedge funds have recently bought and sold shares of FTK. Hillsdale Investment Management Inc. bought a new position in shares of Flotek Industries in the fourth quarter worth approximately $4,418,000. Geode Capital Management LLC increased its holdings in shares of Flotek Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 302,539 shares of the oil and gas company’s stock worth $2,885,000 after purchasing an additional 5,056 shares in the last quarter. Acuitas Investments LLC purchased a new position in shares of Flotek Industries in the fourth quarter worth $2,586,000. Truist Financial Corp lifted its holdings in shares of Flotek Industries by 3.6% during the fourth quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company’s stock valued at $2,327,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Flotek Industries by 71.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 145,678 shares of the oil and gas company’s stock valued at $1,388,000 after buying an additional 60,504 shares during the last quarter. Institutional investors own 10.90% of the company’s stock.

Flotek Industries Price Performance

FTK stock traded up $0.21 on Tuesday, reaching $9.23. 140,751 shares of the company traded hands, compared to its average volume of 220,447. The firm has a fifty day simple moving average of $8.72 and a 200-day simple moving average of $6.63. The company has a market cap of $275.11 million, a P/E ratio of 35.51 and a beta of 1.18. Flotek Industries has a one year low of $2.64 and a one year high of $10.35.

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).