Forum Energy Technologies, Inc. (NYSE:FET) Short Interest Update

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

Insiders Place Their Bets

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 stock was sold at an average price of $15.41, for a total transaction of $76,279.50. Following the transaction, the director now owns 16,121 shares of the company’s stock, valued at $248,424.61. This trade represents a 23.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Forum Energy Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake 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 increased its position in Forum Energy Technologies by 86.0% in 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. State Street Corp raised its stake in Forum Energy Technologies by 6.9% during the 3rd quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock valued at $3,068,000 after acquiring an additional 12,785 shares in the last quarter. SCF Partners Inc. acquired a new position in Forum Energy Technologies during the 3rd quarter worth $12,843,000. Finally, Icon Wealth Advisors LLC grew its stake in shares of Forum Energy Technologies by 44.4% in the third quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company’s stock worth $1,419,000 after purchasing an additional 28,225 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Forum Energy Technologies Stock Performance

FET stock traded down $0.11 during trading on Monday, hitting $19.06. 90,641 shares of the company’s stock traded hands, compared to its average volume of 67,722. The stock has a fifty day moving average price of $15.62 and a two-hundred day moving average price of $15.96. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Forum Energy Technologies has a 52 week low of $12.83 and a 52 week high of $21.51. The stock has a market capitalization of $234.06 million, a price-to-earnings 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.