Flowco Holdings Inc. (NYSE:FLOC) Short Interest Up 25.1% in December

Flowco Holdings Inc. (NYSE:FLOC) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 762,860 shares, an increase of 25.1% from the December 15th total of 609,950 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 261,619 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily volume of 261,619 shares, the days-to-cover ratio is presently 2.9 days. Currently, 0.9% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FLOC. Piper Sandler reaffirmed an “overweight” rating on shares of Flowco in a research report on Tuesday, December 9th. Evercore ISI restated an “outperform” rating and issued a $25.00 price target on shares of Flowco in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Finally, Zacks Research downgraded Flowco from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Flowco currently has an average rating of “Moderate Buy” and an average price target of $29.20.

Flowco Stock Performance

Shares of FLOC stock traded down $0.28 on Tuesday, reaching $20.13. The stock had a trading volume of 5,150 shares, compared to its average volume of 183,547. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.33 and a current ratio of 2.90. Flowco has a 1 year low of $14.03 and a 1 year high of $30.50. The stock has a market cap of $1.80 billion and a P/E ratio of 6.69. The company has a 50 day simple moving average of $18.02 and a 200 day simple moving average of $17.01.

Flowco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, November 14th. Flowco’s payout ratio is currently 10.67%.

Insider Transactions at Flowco

In other news, EVP Chad Roberts sold 55,173 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president owned 332,327 shares in the company, valued at approximately $6,068,291.02. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 114,783 shares of company stock valued at $2,145,786 over the last three months.

Hedge Funds Weigh In On Flowco

Institutional investors and hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC increased 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 buying an additional 1,012 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after acquiring an additional 1,292 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in shares of Flowco by 38.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company’s stock valued at $85,000 after acquiring an additional 1,317 shares during the period. CWM LLC increased its stake in shares of Flowco by 183.6% in the 3rd quarter. CWM LLC now owns 3,667 shares of the company’s stock worth $54,000 after purchasing an additional 2,374 shares in the last quarter. Finally, Strs Ohio bought a new position in Flowco in the 1st quarter worth $92,000.

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.