Insider Selling: John Chisholm Sells 50,000 Shares of Flotek Industries Stock (FTK)
Flotek Industries (NYSE:FTK) CEO John Chisholm unloaded 50,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $20.91, for a total value of $1,045,500.00. Following the completion of the sale, the chief executive officer now directly owns 366,445 shares of the company’s stock, valued at approximately $7,662,365. The transaction was disclosed in a filing with the SEC, which is available at this link.
Flotek Industries (NYSE:FTK) traded up 5.73% during mid-day trading on Wednesday, hitting $22.14. The stock had a trading volume of 1,186,593 shares. Flotek Industries has a 1-year low of $13.18 and a 1-year high of $23.90. The stock’s 50-day moving average is $19.79 and its 200-day moving average is $20.67. The company has a market cap of $1.143 billion and a price-to-earnings ratio of 23.06.
FTK has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Flotek Industries from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, January 20th. They now have a $19.80 price target on the stock. Separately, analysts at Johnson Rice initiated coverage on shares of Flotek Industries in a research note to investors on Monday, January 13th. They set an “overweight” rating on the stock. Finally, analysts at Iberia Capital initiated coverage on shares of Flotek Industries in a research note to investors on Friday, December 13th. They set an “outperform” rating on the stock.
Flotek Industries, Inc (NYSE:FTK), is a diversified global supplier of drilling and production related products and services.
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