Forum Energy Technologies, Inc. (NYSE:FET) Short Interest Up 9.5% in January

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

Insider Activity at Forum Energy Technologies

In other Forum Energy Technologies news, Director Louis Raspino sold 4,950 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $15.41, for a total value of $76,279.50. Following the sale, the director now directly owns 16,121 shares in the company, valued at $248,424.61. This represents a 23.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Forum Energy Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in Forum Energy Technologies by 71.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 3,693 shares during the period. Barclays PLC lifted its position in Forum Energy Technologies by 86.0% during the 3rd 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 during the period. Squarepoint Ops LLC lifted its position in Forum Energy Technologies by 123.9% during the 2nd 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. Renaissance Technologies LLC lifted its position in Forum Energy Technologies by 21.8% during the 2nd quarter. Renaissance Technologies LLC now owns 79,900 shares of the oil and gas company’s stock valued at $1,347,000 after acquiring an additional 14,300 shares during the period. Finally, Icon Wealth Advisors LLC increased its stake in Forum Energy Technologies by 44.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company’s stock valued at $1,419,000 after purchasing an additional 28,225 shares in the last quarter. Institutional investors own 65.60% of the company’s stock.

Forum Energy Technologies Price Performance

NYSE FET traded down $0.51 on Monday, hitting $17.61. The stock had a trading volume of 50,524 shares, compared to its average volume of 71,982. Forum Energy Technologies has a 52-week low of $12.83 and a 52-week high of $20.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93. The company has a market capitalization of $216.26 million, a price-to-earnings ratio of -4.16 and a beta of 2.38. The firm has a 50-day moving average of $16.30 and a 200-day moving average of $16.12.

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.