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

Forum Energy Technologies, Inc. (NYSE:FET) was the target 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. Based on an average trading volume of 62,300 shares, the short-interest ratio is currently 1.7 days. Approximately 1.0% of the shares of the stock are sold short.

Forum Energy Technologies Price Performance

Shares of Forum Energy Technologies stock traded down $0.11 on Monday, hitting $19.06. The company had a trading volume of 90,641 shares, compared to its average volume of 67,722. The business has a 50-day simple moving average of $15.62 and a 200-day simple moving average of $15.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87. The company has a market cap of $234.06 million, a PE ratio of -4.51 and a beta of 2.40. Forum Energy Technologies has a 52 week low of $12.83 and a 52 week high of $21.51.

Insider Activity

In other news, Director Louis Raspino sold 4,950 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.80% of the company’s stock.

Institutional Trading of Forum Energy Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 3,693 shares during the last quarter. Rhumbline Advisers lifted its stake in Forum Energy Technologies by 24.5% during the second 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 last quarter. Barclays PLC lifted its stake 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 valued at $428,000 after purchasing an additional 12,810 shares during the last quarter. Squarepoint Ops LLC lifted its stake 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 during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 during the last quarter. 65.60% of the stock is 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.