Flowco Holdings Inc. (NYSE:FLOC - Get Free Report)'s share price traded down 4.4% during mid-day trading on Tuesday . The company traded as low as $24.04 and last traded at $24.51. 144,292 shares were traded during mid-day trading, a decline of 73% from the average session volume of 527,840 shares. The stock had previously closed at $25.65.
Analysts Set New Price Targets
Several brokerages have recently commented on FLOC. Fearnley Fonds upgraded Flowco to a "strong-buy" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. initiated coverage on Flowco in a research report on Monday, February 10th. They issued an "overweight" rating and a $32.00 target price for the company. Piper Sandler initiated coverage on Flowco in a research note on Monday, February 10th. They set an "overweight" rating and a $34.00 price objective on the stock. Evercore ISI began coverage on shares of Flowco in a research note on Monday, February 10th. They set an "outperform" rating and a $35.00 target price for the company. Finally, Pickering Energy Partners upgraded shares of Flowco to a "strong-buy" rating in a research report on Monday, February 10th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Flowco has an average rating of "Buy" and a consensus target price of $33.80.
View Our Latest Analysis on Flowco
Flowco Price Performance
The business has a 50-day simple moving average of $25.67.
Flowco (NYSE:FLOC - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $1.88. The firm had revenue of $185.99 million for the quarter, compared to analyst estimates of $184.92 million. As a group, research analysts predict that Flowco Holdings Inc. will post 1.54 EPS for the current fiscal year.
Insider Transactions at Flowco
In related news, Director Paul W. Hobby acquired 8,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average cost of $24.18 per share, for a total transaction 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 approximately $571,252.50. The trade was a 51.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
About Flowco
(
Get Free Report)
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.
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