Short Interest in Forum Energy Technologies, Inc. (NYSE:FET) Rises By 6.5%

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

Insider Buying and Selling at Forum Energy Technologies

In related news, EVP John C. Ivascu sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.25, for a total value of $38,500.00. Following the transaction, the executive vice president now owns 51,543 shares in the company, valued at $992,202.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Forum Energy Technologies

Large investors have recently made changes to their positions in the company. Barclays PLC grew its stake in shares of 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 raised its stake in shares of 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 acquiring an additional 19,020 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Forum Energy Technologies by 2.6% during 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 acquiring an additional 6,355 shares during the period. SG Americas Securities LLC purchased a new stake in Forum Energy Technologies during the 3rd quarter worth approximately $114,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Forum Energy Technologies by 71.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,217 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 7,599 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Forum Energy Technologies Price Performance

Shares of FET stock opened at $18.48 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.13 and a current ratio of 2.59. Forum Energy Technologies has a fifty-two week low of $17.65 and a fifty-two week high of $28.73. The firm has a market cap of $226.93 million, a P/E ratio of -9.99 and a beta of 2.57. The business’s 50 day moving average price is $19.24 and its 200-day moving average price is $20.72.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FET shares. TheStreet lowered Forum Energy Technologies from a “c” rating to a “d” rating in a research report on Thursday, February 29th. StockNews.com raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a research note on Friday, April 12th.

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.