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.
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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).
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