Flowco (NYSE:FLOC) Hits New 1-Year Low – What’s Next?

Flowco Holdings Inc. (NYSE:FLOC)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.69 and last traded at $20.20, with a volume of 1167223 shares trading hands. The stock had previously closed at $17.38.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FLOC shares. BMO Capital Markets initiated coverage on Flowco in a research note on Monday, February 10th. They issued an “outperform” rating and a $33.00 target price for the company. Jefferies Financial Group initiated coverage on Flowco in a report on Monday, February 10th. They set a “buy” rating and a $35.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Flowco in a report on Monday, February 10th. They issued an “overweight” rating and a $32.00 price target on the stock. 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 for the company. Finally, Fearnley Fonds raised shares of Flowco to a “strong-buy” rating in a report on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $33.80.

Flowco Trading Down 0.3 %

The business has a fifty day simple moving average of $24.29.

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

Insider Buying and Selling at Flowco

In related news, Director Paul W. Hobby acquired 8,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost 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 in the company, valued at approximately $571,252.50. This trade represents a 51.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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.