Forum Energy Technologies, Inc. (NYSE:FET) Sees Large Drop in Short Interest

Forum Energy Technologies, Inc. (NYSE:FET) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 116,600 shares, a drop of 7.5% from the January 15th total of 126,100 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 73,700 shares, the days-to-cover ratio is currently 1.6 days.

Forum Energy Technologies Stock Performance

Shares of FET opened at $19.94 on Wednesday. Forum Energy Technologies has a one year low of $12.83 and a one year high of $20.85. The company has a 50-day moving average of $17.02 and a two-hundred day moving average of $16.16. The stock has a market cap of $244.94 million, a price-to-earnings ratio of -4.71 and a beta of 2.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87.

Insiders Place Their Bets

In other Forum Energy Technologies news, Director Louis Raspino sold 4,950 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $15.41, for a total value of $76,279.50. Following the completion of the transaction, the director now directly owns 16,121 shares in the company, valued at $248,424.61. This trade represents a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Forum Energy Technologies

Several institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in shares of Forum Energy Technologies by 63.7% during the fourth quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 859 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Forum Energy Technologies by 126.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 1,319 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Forum Energy Technologies by 7.5% during the fourth quarter. Hsbc Holdings PLC now owns 26,722 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 1,862 shares during the period. Barclays PLC boosted its holdings in shares of Forum Energy Technologies by 7.7% during the fourth quarter. Barclays PLC now owns 29,851 shares of the oil and gas company’s stock worth $462,000 after purchasing an additional 2,137 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Forum Energy Technologies by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 2,479 shares during the period. 65.60% of the stock is currently 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.