Forum Energy Technologies, Inc. (NYSE:FET) Short Interest Up 35.6% in February

Forum Energy Technologies, Inc. (NYSE:FET) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 146,400 shares, an increase of 35.6% from the February 13th total of 108,000 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily volume of 75,200 shares, the days-to-cover ratio is presently 1.9 days.

Forum Energy Technologies Stock Up 7.2 %

Shares of FET traded up $1.29 during midday trading on Friday, hitting $19.04. 68,977 shares of the company’s stock traded hands, compared to its average volume of 53,430. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $235.06 million, a price-to-earnings ratio of -1.73 and a beta of 2.33. Forum Energy Technologies has a 1 year low of $12.83 and a 1 year high of $20.54. The firm’s fifty day moving average is $18.09 and its 200-day moving average is $16.36.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.58). Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%. The business had revenue of $201.00 million during the quarter, compared to analyst estimates of $201.85 million.

Analyst Ratings Changes

Separately, StockNews.com lowered Forum Energy Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

Institutional Trading of Forum Energy Technologies

Several large investors have recently bought and sold shares of FET. Russell Investments Group Ltd. lifted its stake in shares of Forum Energy Technologies by 63.7% during the fourth quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock worth $34,000 after buying an additional 859 shares during the period. Tower Research Capital LLC TRC lifted its position in 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 worth $37,000 after acquiring an additional 1,319 shares during the period. Wells Fargo & Company MN grew its stake in Forum Energy Technologies by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 2,479 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Forum Energy Technologies by 71.7% in 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 period. Finally, XTX Topco Ltd purchased a new position in shares of Forum Energy Technologies in the fourth quarter worth about $160,000. Hedge funds and other institutional investors 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.