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

Forum Energy Technologies, Inc. (NYSE:FET) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 186,600 shares, a growth of 22.8% from the May 31st total of 151,900 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 32,400 shares, the days-to-cover ratio is presently 5.8 days.

Forum Energy Technologies Stock Down 2.8 %

FET stock traded down $0.47 during trading on Tuesday, hitting $16.05. 40,542 shares of the company’s stock were exchanged, compared to its average volume of 34,829. The business has a 50-day moving average price of $17.88 and a two-hundred day moving average price of $19.30. The stock has a market capitalization of $197.09 million, a price-to-earnings ratio of -6.80 and a beta of 2.53. Forum Energy Technologies has a 52-week low of $15.80 and a 52-week high of $28.73. The company has a current ratio of 2.83, a quick ratio of 1.26 and a debt-to-equity ratio of 0.63.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.69. The firm had revenue of $202.40 million during the quarter, compared to analysts’ expectations of $211.60 million. Forum Energy Technologies had a negative return on equity of 0.94% and a negative net margin of 3.42%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of Forum Energy Technologies by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 5,311 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 581 shares during the period. Barclays PLC boosted its position in Forum Energy Technologies by 91.8% during the third quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 3,344 shares in the last quarter. Empowered Funds LLC purchased a new stake in Forum Energy Technologies during the first quarter worth $221,000. Pickering Energy Partners LP purchased a new stake in Forum Energy Technologies during the fourth quarter worth $279,000. Finally, Panagora Asset Management Inc. boosted its position in Forum Energy Technologies by 20.4% during the fourth quarter. Panagora Asset Management Inc. now owns 18,795 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 3,186 shares in the last quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Forum Energy Technologies from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

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.