Forum Energy Technologies, Inc. (NYSE:FET) Short Interest Update

Forum Energy Technologies, Inc. (NYSE:FET) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 146,400 shares, an increase of 35.6% from the February 13th total of 108,000 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 75,200 shares, the days-to-cover ratio is presently 1.9 days.

Forum Energy Technologies Trading Up 1.7 %

Shares of NYSE FET traded up $0.33 during trading on Monday, hitting $19.39. 71,000 shares of the company traded hands, compared to its average volume of 53,500. The firm has a market capitalization of $239.39 million, a P/E ratio of -1.77 and a beta of 2.33. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $18.15 and a 200-day moving average price of $16.36. Forum Energy Technologies has a 1 year low of $12.83 and a 1 year high of $20.54.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.58). The firm had revenue of $201.00 million for the quarter, compared to analysts’ expectations of $201.85 million. Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Thursday, March 6th.

Insider Transactions at Forum Energy Technologies

In other Forum Energy Technologies news, CEO Neal Lux purchased 9,129 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $17.65 per share, with a total value of $161,126.85. Following the purchase, the chief executive officer now owns 212,250 shares in the company, valued at approximately $3,746,212.50. This represents a 4.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 6.20% of the company’s stock.

Institutional Trading of Forum Energy Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Crossingbridge Advisors LLC purchased a new stake in Forum Energy Technologies during the third quarter worth approximately $3,721,000. State Street Corp boosted its position in Forum Energy Technologies by 6.9% during the 3rd quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock worth $3,068,000 after purchasing an additional 12,785 shares during the period. Barclays PLC increased its holdings in Forum Energy Technologies by 86.0% in the 3rd quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 12,810 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Forum Energy Technologies by 71.7% during the third quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 3,693 shares in the last quarter. Finally, SCF Partners Inc. purchased a new stake in shares of Forum Energy Technologies in the third quarter worth about $12,843,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

About Forum Energy Technologies

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.