Way oversold and will definitely be heading back up added more Friday and will add a ton more. I was already looking for a excellent return within a month or so then I read an article on it this morning here's an excerpt. Might be a selloff as shorts jump on the earnings release who knows they already said they would be off due to weather in the quarter thats what caused the initial drop off, I am going to personally use the opportunity to lad cheaper and hold, when it comes back it will be a larger percentage than many of my other month to 6 week hold plays like money in the bank IMHO.
A number of institutional investors and hedge funds have recently made changes to their positions in FTK. Wells Fargo & Company MN grew its holdings in Flotek Industries by 24.2% in the third quarter. Wells Fargo & Company MN now owns 114,691 shares of the oil and gas company’s stock worth $533,000 after purchasing an additional 22,327 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Flotek Industries by 5.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 249,573 shares of the oil and gas company’s stock worth $1,161,000 after buying an additional 13,773 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Flotek Industries by 21.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,358,417 shares of the oil and gas company’s stock worth $6,317,000 after buying an additional 243,001 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Flotek Industries in the fourth quarter worth approximately $225,000. Finally, Arizona State Retirement System lifted its stake in shares of Flotek Industries by 220.8% in the fourth quarter. Arizona State Retirement System now owns 95,507 shares of the oil and gas company’s stock worth $445,000 after buying an additional 65,740 shares in the last quarter. Institutional investors and hedge funds own 78.50% of the company’s stock.
Everything isnt a flip and this is definitely not one I am willing to hold on to this and add the dips when they try and take it down I am not a guy that cares day to day what short sellers do means a hill of beans to me on momo guys give a damn about stuff like that. Within a month this will be banging again and I will be smiling. If it takes two months doesn't matter thats why its called an investment. Peace out.
