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

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

Insider Activity at Forum Energy Technologies

In other Forum Energy Technologies news, Director Louis Raspino sold 4,950 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total transaction of $76,279.50. Following the sale, the director now owns 16,121 shares in the company, valued at approximately $248,424.61. The trade was a 23.49 % decrease in their position. The transaction 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 Trading of Forum Energy Technologies

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Forum Energy Technologies by 71.7% during the third 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. Rhumbline Advisers increased its holdings in shares of Forum Energy Technologies by 24.5% in the 2nd quarter. Rhumbline Advisers now owns 17,483 shares of the oil and gas company’s stock valued at $295,000 after purchasing an additional 3,437 shares during the period. Barclays PLC lifted its position 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 worth $428,000 after purchasing an additional 12,810 shares in the last quarter. Squarepoint Ops LLC grew its position in 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 purchasing an additional 17,177 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position 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 valued at $939,000 after purchasing an additional 9,090 shares in the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Forum Energy Technologies Trading Down 0.6 %

Shares of FET stock traded down $0.11 during trading hours on Friday, reaching $19.06. 90,641 shares of the stock traded hands, compared to its average volume of 67,722. The business has a fifty day moving average price of $15.62 and a 200 day moving average price of $15.96. Forum Energy Technologies has a 1-year low of $12.83 and a 1-year high of $21.51. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $234.06 million, a PE ratio of -4.51 and a beta of 2.40.

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.