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

Forum Energy Technologies, Inc. (NYSE:FET) was the recipient of a large growth in short interest during the month of 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. Based on an average daily trading volume, of 62,300 shares, the short-interest ratio is currently 1.7 days. Currently, 1.0% of the company’s stock are short sold.

Forum Energy Technologies Stock Down 2.8 %

Forum Energy Technologies stock opened at $17.61 on Tuesday. The stock has a 50 day moving average of $16.34 and a two-hundred day moving average of $16.12. Forum Energy Technologies has a twelve month low of $12.83 and a twelve month high of $20.85. The stock has a market capitalization of $216.26 million, a price-to-earnings ratio of -4.16 and a beta of 2.38. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37.

Insider Activity at Forum Energy Technologies

In other news, Director Louis Raspino sold 4,950 shares of the 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 completion of the sale, the director now directly owns 16,121 shares of the company’s stock, valued at approximately $248,424.61. This represents a 23.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Forum Energy Technologies

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised 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 worth $137,000 after buying an additional 3,693 shares during the last quarter. Barclays PLC raised its holdings in Forum Energy Technologies by 86.0% during the third quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 12,810 shares in the last quarter. Squarepoint Ops LLC boosted its holdings 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 valued at $523,000 after purchasing an additional 17,177 shares in the last quarter. Renaissance Technologies LLC increased 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 worth $1,347,000 after purchasing an additional 14,300 shares during the period. Finally, Icon Wealth Advisors LLC raised its stake in shares of 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 worth $1,419,000 after buying an additional 28,225 shares in the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.

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.