Stock Traders Purchase High Volume of Flotek Industries Call Options (FTK)

Flotek Industries Inc (NYSE:FTK) was the recipient of unusually large options trading on Monday. Stock investors purchased 8,284 call options on the stock. This is an increase of 3,309% compared to the average daily volume of 243 call options.

Separately, Zacks Investment Research raised Flotek Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 9th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new position in shares of Flotek Industries in the second quarter worth $105,000. Stevens Capital Management LP acquired a new position in shares of Flotek Industries in the third quarter worth $110,000. Engineers Gate Manager LP acquired a new position in shares of Flotek Industries in the third quarter worth $133,000. MetLife Investment Advisors LLC acquired a new position in shares of Flotek Industries in the fourth quarter worth $133,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Flotek Industries by 67.7% in the third quarter. BNP Paribas Arbitrage SA now owns 29,451 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 11,889 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Flotek Industries (FTK) opened at $5.53 on Tuesday. Flotek Industries has a 1-year low of $4.14 and a 1-year high of $14.51. The stock has a market capitalization of $314.25, a price-to-earnings ratio of -9.87 and a beta of 1.77.

TRADEMARK VIOLATION NOTICE: This piece was originally published by Week Herald and is the sole property of of Week Herald. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://weekherald.com/2018/02/20/stock-traders-purchase-high-volume-of-flotek-industries-call-options-ftk.html.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).

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.

Leave a Reply