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

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

Forum Energy Technologies Stock Performance

Shares of FET traded down $0.11 during mid-day trading on Friday, reaching $19.06. 90,641 shares of the company’s stock traded hands, compared to its average volume of 67,722. Forum Energy Technologies has a 12 month low of $12.83 and a 12 month high of $21.51. The stock has a market capitalization of $234.06 million, a P/E ratio of -4.51 and a beta of 2.40. The business’s 50-day moving average price is $15.62 and its 200-day moving average price is $15.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93.

Insider Buying and Selling at Forum Energy Technologies

In other Forum Energy Technologies news, Director Louis Raspino sold 4,950 shares of Forum Energy Technologies 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 transaction, the director now directly owns 16,121 shares in the company, valued at $248,424.61. The trade was a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of 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 in 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. State Street Corp lifted its position in Forum Energy Technologies by 6.9% in the third quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock worth $3,068,000 after purchasing an additional 12,785 shares during the period. SCF Partners Inc. bought a new position in Forum Energy Technologies during the 3rd quarter valued at $12,843,000. Finally, Icon Wealth Advisors LLC increased its position 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 valued at $1,419,000 after purchasing an additional 28,225 shares during the period. Institutional investors and hedge funds own 65.60% of the company’s stock.

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.