5 Penny Stocks with Insider Buying

2. Flotek Industries, Inc. (NYSE:FTK)

Total Value of Insider Purchases: ~$3.4 million

Number of Hedge Fund Investors in Q4 2022: 6

Flotek Industries, Inc. (NYSE:FTK) is an oil and gas industry services provider that provides a data analytics platform and specialty chemicals to sanitize operations. The company is based in Houston, Texas.

Flotek Industries, Inc. (NYSE:FTK)’s minority owner ProFrac bought 1.5 million shares of the company for $3.4 million at the end of December last year. Six of the 943 hedge funds surveyed by Insider Monkey had held a stake in the company in Q4 2022.

Flotek Industries, Inc. (NYSE:FTK)’s largest investor is David Nierenberg’s Nierenberg Investment Management which owns 7.7 million shares that are worth $8.7 million.

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