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

Forum Energy Technologies, Inc. (NYSE:FET) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 108,300 shares, an increase of 9.5% from the December 15th total of 98,900 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 62,300 shares, the days-to-cover ratio is currently 1.7 days.

Forum Energy Technologies Stock Performance

Shares of NYSE:FET traded down $0.11 during trading on Monday, reaching $19.06. 90,641 shares of the company’s stock traded hands, compared to its average volume of 67,722. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87. Forum Energy Technologies has a 12 month low of $12.83 and a 12 month high of $21.51. The company has a 50 day moving average of $15.62 and a 200-day moving average of $15.96. The stock has a market capitalization of $234.06 million, a P/E ratio of -4.51 and a beta of 2.40.

Insider Activity

In related news, Director Louis Raspino sold 4,950 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $15.41, for a total transaction of $76,279.50. Following the completion of the sale, the director now owns 16,121 shares of the company’s stock, valued at $248,424.61. This represents a 23.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Forum Energy Technologies

A number of institutional investors have recently modified their holdings of FET. SCF Partners Inc. bought a new stake in shares of Forum Energy Technologies during the 3rd quarter valued at about $12,843,000. Crossingbridge Advisors LLC bought a new position in Forum Energy Technologies in the 3rd quarter worth about $3,721,000. Icon Wealth Advisors LLC grew its position in Forum Energy Technologies by 44.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company’s stock worth $1,419,000 after purchasing an additional 28,225 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Forum Energy Technologies by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 438,899 shares of the oil and gas company’s stock worth $7,400,000 after purchasing an additional 25,982 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in Forum Energy Technologies by 123.9% in the 2nd quarter. Squarepoint Ops LLC now owns 31,044 shares of the oil and gas company’s stock worth $523,000 after purchasing an additional 17,177 shares during the last quarter. Institutional investors 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.