Bailard Inc. Takes $360,000 Position in Flotek Industries, Inc. (NYSE:FTK)

Bailard Inc. acquired a new stake in Flotek Industries, Inc. (NYSE:FTK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,800 shares of the oil and gas company’s stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acuitas Investments LLC acquired a new position in Flotek Industries in the 4th quarter valued at about $2,586,000. Geode Capital Management LLC lifted its holdings in Flotek Industries by 108.1% in the third quarter. Geode Capital Management LLC now owns 297,483 shares of the oil and gas company’s stock valued at $1,483,000 after acquiring an additional 154,497 shares during the last quarter. PDT Partners LLC purchased a new position in Flotek Industries in the third quarter worth approximately $86,000. Barclays PLC acquired a new stake in Flotek Industries during the third quarter worth $66,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Flotek Industries in the third quarter valued at $60,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Flotek Industries Stock Performance

Flotek Industries stock opened at $7.17 on Wednesday. The company’s 50 day simple moving average is $8.80 and its 200-day simple moving average is $6.91. Flotek Industries, Inc. has a 1 year low of $2.64 and a 1 year high of $10.35. The company has a market capitalization of $213.49 million, a price-to-earnings ratio of 27.56 and a beta of 1.18.

Flotek Industries Company 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).