Monashee Investment Management LLC Invests $2.06 Million in Flowco Holdings Inc. $FLOC

Monashee Investment Management LLC purchased a new stake in shares of Flowco Holdings Inc. (NYSE:FLOC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $2,060,000. Monashee Investment Management LLC owned approximately 0.11% of Flowco at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FLOC. Zions Bancorporation National Association UT bought a new position in Flowco during the 4th quarter valued at about $29,000. Parallel Advisors LLC grew its stake in shares of Flowco by 8,929.4% in the fourth 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 period. Aster Capital Management DIFC Ltd purchased a new position in shares of Flowco during the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Flowco by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Strs Ohio bought a new position in Flowco during the first quarter valued at approximately $92,000.

Flowco Stock Up 1.7%

FLOC opened at $20.55 on Thursday. The firm’s 50 day simple moving average is $22.91 and its two-hundred day simple moving average is $22.45. The company has a market capitalization of $1.86 billion, a PE ratio of 17.57 and a beta of 0.89. Flowco Holdings Inc. has a 1-year low of $14.03 and a 1-year high of $28.26. The company has a current ratio of 3.09, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00.

Flowco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 15th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. This is an increase from Flowco’s previous quarterly dividend of $0.08. Flowco’s payout ratio is 30.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FLOC shares. Zacks Research downgraded shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Wall Street Zen lowered Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Flowco in a research report on Thursday, May 7th. Finally, Piper Sandler lowered their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.20.

Flowco 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.