Forum Energy Technologies, Inc. (NYSE:FET) Sees Significant Growth in Short Interest

Forum Energy Technologies, Inc. (NYSE:FET) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 93,100 shares, a growth of 6.4% from the November 15th total of 87,500 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 50,300 shares, the days-to-cover ratio is presently 1.9 days.

Forum Energy Technologies Stock Performance

Shares of FET traded down $0.26 during midday trading on Tuesday, hitting $14.66. 130,308 shares of the stock traded hands, compared to its average volume of 46,021. The business’s 50 day moving average price is $15.04 and its two-hundred day moving average price is $16.07. The firm has a market capitalization of $180.08 million, a PE ratio of -3.47 and a beta of 2.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93. Forum Energy Technologies has a 1-year low of $12.83 and a 1-year high of $23.82.

Insider Buying and Selling at Forum Energy Technologies

In related news, Director Louis Raspino sold 4,950 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total value of $76,279.50. Following the sale, the director now owns 16,121 shares of the company’s stock, valued at approximately $248,424.61. This trade represents a 23.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Forum Energy Technologies by 24.5% during the 2nd quarter. Rhumbline Advisers now owns 17,483 shares of the oil and gas company’s stock worth $295,000 after acquiring an additional 3,437 shares during the period. Barclays PLC boosted its holdings in shares of Forum Energy Technologies by 86.0% in the third quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock valued at $428,000 after acquiring an additional 12,810 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of Forum Energy Technologies by 123.9% during the second quarter. Squarepoint Ops LLC now owns 31,044 shares of the oil and gas company’s stock valued at $523,000 after acquiring an additional 17,177 shares during the period. Bank of New York Mellon Corp raised its holdings in Forum Energy Technologies by 19.5% during the second quarter. Bank of New York Mellon Corp now owns 55,691 shares of the oil and gas company’s stock worth $939,000 after purchasing an additional 9,090 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Forum Energy Technologies by 21.8% in the second quarter. Renaissance Technologies LLC now owns 79,900 shares of the oil and gas company’s stock worth $1,347,000 after purchasing an additional 14,300 shares during the period. 65.60% of the stock is owned by institutional investors and hedge funds.

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.