Forum Energy Technologies, Inc. (NYSE:FET) Sees Significant Decrease in Short Interest

Forum Energy Technologies, Inc. (NYSE:FET) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 116,600 shares, a decrease 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 trading volume of 73,700 shares, the days-to-cover ratio is currently 1.6 days.

Forum Energy Technologies Stock Up 2.9 %

NYSE FET traded up $0.57 during trading on Tuesday, reaching $19.94. 168,254 shares of the company’s stock were exchanged, compared to its average volume of 70,218. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37. Forum Energy Technologies has a fifty-two week low of $12.83 and a fifty-two week high of $20.85. The company’s fifty day simple moving average is $17.02 and its 200-day simple moving average is $16.16. The firm has a market capitalization of $244.86 million, a PE ratio of -4.71 and a beta of 2.38.

Insider Activity at Forum Energy Technologies

In other news, Director Louis Raspino sold 4,950 shares of Forum Energy Technologies stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total transaction of $76,279.50. Following the transaction, the director now owns 16,121 shares in the company, valued at approximately $248,424.61. The trade was a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.20% of the stock is owned by insiders.

Institutional Trading of Forum Energy Technologies

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in Forum Energy Technologies by 63.7% in the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 859 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Forum Energy Technologies by 126.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 1,319 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Forum Energy Technologies by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 2,479 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of 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 worth $137,000 after acquiring an additional 3,693 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Forum Energy Technologies during the fourth quarter valued at $160,000. 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.