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

Forum Energy Technologies, Inc. (NYSE:FET) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 128,300 shares, an increase of 6.5% from the March 31st total of 120,500 shares. Based on an average daily trading volume, of 32,400 shares, the days-to-cover ratio is presently 4.0 days. Approximately 1.2% of the shares of the company are sold short.

Insider Transactions at Forum Energy Technologies

In other news, EVP John C. Ivascu sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $19.25, for a total transaction of $38,500.00. Following the completion of the sale, the executive vice president now owns 51,543 shares in the company, valued at approximately $992,202.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Forum Energy Technologies

Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its holdings in Forum Energy Technologies by 91.8% in the 3rd quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock valued at $168,000 after buying an additional 3,344 shares during the period. Monaco Asset Management SAM increased its holdings in Forum Energy Technologies by 26.7% in the 3rd quarter. Monaco Asset Management SAM now owns 90,145 shares of the oil and gas company’s stock valued at $2,165,000 after buying an additional 19,020 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Forum Energy Technologies by 2.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 253,092 shares of the oil and gas company’s stock valued at $5,611,000 after buying an additional 6,355 shares during the period. SG Americas Securities LLC bought a new position in Forum Energy Technologies in the 3rd quarter valued at about $114,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Forum Energy Technologies by 71.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,217 shares of the oil and gas company’s stock valued at $438,000 after purchasing an additional 7,599 shares during the last quarter. 65.60% of the stock is owned by institutional investors.

Forum Energy Technologies Price Performance

Shares of Forum Energy Technologies stock opened at $18.48 on Thursday. The company has a quick ratio of 1.13, a current ratio of 2.59 and a debt-to-equity ratio of 0.31. Forum Energy Technologies has a twelve month low of $17.65 and a twelve month high of $28.73. The stock has a market capitalization of $226.93 million, a price-to-earnings ratio of -9.99 and a beta of 2.57. The company has a 50-day simple moving average of $19.24 and a two-hundred day simple moving average of $20.72.

Forum Energy Technologies (NYSE:FET) last released its earnings results on Thursday, February 29th. The oil and gas company reported ($0.39) EPS for the quarter. Forum Energy Technologies had a negative net margin of 2.56% and a negative return on equity of 0.38%. The firm had revenue of $185.20 million during the quarter. Analysts forecast that Forum Energy Technologies will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

FET has been the subject of several analyst reports. StockNews.com upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. TheStreet cut shares of Forum Energy Technologies from a “c” rating to a “d” rating in a research note on Thursday, February 29th.

Forum Energy Technologies Company Profile

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.