Flowco (NYSE:FLOC) Hits New 1-Year Low – Time to Sell?

Flowco Holdings Inc. (NYSE:FLOC) shares reached a new 52-week low during trading on Friday . The stock traded as low as $19.67 and last traded at $20.03, with a volume of 17175 shares traded. The stock had previously closed at $21.97.

Wall Street Analysts Forecast Growth

FLOC has been the subject of several research analyst reports. JPMorgan Chase & Co. assumed coverage on Flowco in a report on Monday, February 10th. They issued an “overweight” rating and a $32.00 price objective for the company. Pickering Energy Partners raised shares of Flowco to a “strong-buy” rating in a research report on Monday, February 10th. Fearnley Fonds raised shares of Flowco to a “strong-buy” rating in a report on Friday, March 21st. Evercore ISI started coverage on Flowco in a report on Monday, February 10th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on Flowco in a research note on Monday, February 10th. They set a “buy” rating and a $35.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $33.80.

Flowco Trading Down 13.3 %

The company has a 50 day moving average price of $25.67.

Flowco (NYSE:FLOC) last released 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 business had revenue of $185.99 million for the quarter, compared to analyst estimates of $184.92 million. Research analysts expect that Flowco Holdings Inc. will post 1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul W. Hobby purchased 8,000 shares of Flowco stock in a transaction dated Wednesday, March 19th. The stock was bought at an average cost of $24.18 per share, for a total transaction of $193,440.00. Following the transaction, the director now owns 23,625 shares in the company, valued at approximately $571,252.50. The trade was a 51.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Flowco Company Profile

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.