Investors Purchase High Volume of Forgent Power Solutions Call Options (NYSE:FPS)

Forgent Power Solutions, Inc. (NYSE:FPS) was the target of some unusual options trading activity on Thursday. Traders purchased 4,056 call options on the stock. This represents an increase of 103% compared to the average daily volume of 2,002 call options.

Forgent Power Solutions Stock Performance

Shares of NYSE:FPS traded up $4.86 during mid-day trading on Thursday, hitting $50.38. The stock had a trading volume of 4,650,164 shares, compared to its average volume of 4,135,684. Forgent Power Solutions has a 12-month low of $25.95 and a 12-month high of $51.00. The firm’s 50 day simple moving average is $34.37.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Forgent Power Solutions to a “hold” rating in a report on Tuesday, March 10th. Jefferies Financial Group assumed coverage on shares of Forgent Power Solutions in a report on Monday, March 2nd. They issued a “buy” rating and a $44.00 price objective for the company. Bank of America started coverage on shares of Forgent Power Solutions in a report on Monday, March 2nd. They issued a “buy” rating and a $48.00 price objective for the company. Morgan Stanley started coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They set an “equal weight” rating and a $38.00 target price for the company. Finally, KeyCorp started coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They set an “overweight” rating and a $41.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Forgent Power Solutions has an average rating of “Moderate Buy” and a consensus target price of $43.40.

About Forgent Power Solutions

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.