Zacks Research Downgrades Flowco (NYSE:FLOC) to Strong Sell

Flowco (NYSE:FLOC) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on FLOC. Piper Sandler reaffirmed an “overweight” rating on shares of Flowco in a report on Tuesday, December 9th. Evercore ISI reissued an “outperform” rating and set a $25.00 price target on shares of Flowco in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.20.

Flowco Trading Up 1.5%

NYSE:FLOC opened at $19.01 on Thursday. The company has a market capitalization of $1.70 billion and a PE ratio of 6.34. Flowco has a 52-week low of $14.03 and a 52-week high of $30.50. The stock’s 50 day moving average price is $17.34 and its 200 day moving average price is $16.89. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63.

Insider Buying and Selling

In other Flowco news, EVP Chad Roberts sold 55,173 shares of Flowco stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $18.26, for a total value of $1,007,458.98. Following the completion of the transaction, the executive vice president owned 332,327 shares of the company’s stock, valued at $6,068,291.02. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 83,883 shares of company stock worth $1,548,331.

Institutional Trading of Flowco

Several hedge funds and other institutional investors have recently modified their holdings of FLOC. Invesco Ltd. acquired a new stake in shares of Flowco during the first quarter worth approximately $292,000. MetLife Investment Management LLC acquired a new stake in shares of Flowco during the 1st quarter valued at $304,000. Corebridge Financial Inc. acquired a new position in shares of Flowco in the first quarter worth $247,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Flowco during the first quarter worth $6,629,000. Finally, Alliancebernstein L.P. purchased a new position in Flowco in the first quarter valued at about $19,449,000.

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