Flowco Holdings Inc. (NYSE:FLOC) Short Interest Up 55.5% in March

Flowco Holdings Inc. (NYSE:FLOC) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 547,106 shares, a growth of 55.5% from the February 26th total of 351,923 shares. Based on an average daily trading volume, of 378,228 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.6% of the company’s stock are sold short.

Flowco Stock Down 4.4%

Shares of FLOC stock traded down $0.96 on Friday, hitting $21.01. The company’s stock had a trading volume of 1,045,878 shares, compared to its average volume of 835,991. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.34 and a quick ratio of 1.42. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 17.81 and a beta of -0.16. Flowco has a fifty-two week low of $14.03 and a fifty-two week high of $26.10. The firm’s fifty day moving average price is $22.19 and its 200-day moving average price is $18.77.

Flowco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.5%. Flowco’s dividend payout ratio is currently 27.12%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FLOC. Wall Street Zen upgraded shares of Flowco from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Jefferies Financial Group restated a “buy” rating and issued a $30.00 target price on shares of Flowco in a research note on Monday, February 2nd. Piper Sandler upped their target price on Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. Finally, Zacks Research upgraded Flowco from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

Insider Transactions at Flowco

In other Flowco news, Director Jonathan B. Fairbanks sold 7,800,000 shares of Flowco stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $21.18, for a total transaction of $165,204,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Chad Roberts sold 54,706 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the completion of the sale, the executive vice president directly owned 67,008 shares of the company’s stock, valued at $1,500,309.12. This trade represents a 44.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,934,790 shares of company stock valued at $168,082,137 over the last 90 days.

Institutional Investors Weigh In On Flowco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC grew its holdings in Flowco by 4.4% during the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after purchasing an additional 1,012 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Flowco by 9.7% during the 4th quarter. Deutsche Bank AG now owns 13,858 shares of the company’s stock worth $260,000 after buying an additional 1,223 shares during the period. Tower Research Capital LLC TRC grew its stake in Flowco by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after buying an additional 1,292 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in Flowco by 38.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock worth $85,000 after acquiring an additional 1,317 shares during the period. Finally, Parallel Advisors LLC lifted its position in Flowco by 8,929.4% during the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after acquiring an additional 1,518 shares during the last quarter.

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. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.