Flowco (NYSE:FLOC) Shares Down 4.4% – What’s Next?

Flowco Holdings Inc. (NYSE:FLOC) was down 4.4% during mid-day trading on Tuesday . The stock traded as low as $24.04 and last traded at $24.51. Approximately 144,292 shares were traded during trading, a decline of 73% from the average daily volume of 527,840 shares. The stock had previously closed at $25.65.

Analyst Upgrades and Downgrades

A number of research firms have commented on FLOC. Fearnley Fonds raised Flowco to a “strong-buy” rating in a report on Friday, March 21st. Pickering Energy Partners raised shares of Flowco to a “strong-buy” rating in a report on Monday, February 10th. BMO Capital Markets began coverage on shares of Flowco in a report on Monday, February 10th. They set an “outperform” rating and a $33.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Flowco in a report on Monday, February 10th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Piper Sandler began coverage on shares of Flowco in a research note on Monday, February 10th. They set an “overweight” rating and a $34.00 price objective on the stock. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $33.80.

Flowco Stock Performance

The firm’s fifty day simple moving average is $26.00.

Flowco (NYSE:FLOC) last posted its earnings results on Tuesday, March 18th. The company reported $2.23 EPS for the quarter, topping the consensus estimate of $0.35 by $1.88. The firm had revenue of $185.99 million during the quarter, compared to the consensus estimate of $184.92 million. On average, research analysts anticipate that Flowco Holdings Inc. will post 1.54 earnings per share for the current fiscal year.

Insider Activity at Flowco

In related news, Director Paul W. Hobby acquired 8,000 shares of Flowco stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of $24.18 per share, with a total value of $193,440.00. Following the completion of the acquisition, the director now directly owns 23,625 shares of the company’s stock, valued at $571,252.50. This trade represents a 51.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

About Flowco

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations.