Forum Energy Technologies, Inc. (NYSE:FET) Short Interest Down 7.5% in January

Forum Energy Technologies, Inc. (NYSE:FET) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 116,600 shares, a decline of 7.5% from the January 15th total of 126,100 shares. Based on an average daily trading volume, of 73,700 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.1% of the shares of the stock are short sold.

Insiders Place Their Bets

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 directly owns 16,121 shares in the company, valued at approximately $248,424.61. This trade represents a 23.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Forum Energy Technologies

Several hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its holdings in 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 in the last quarter. Tower Research Capital LLC TRC lifted its position 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 during the last quarter. Wells Fargo & Company MN boosted its stake in shares of 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 worth $130,000 after acquiring an additional 2,479 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Forum Energy Technologies by 71.7% in the 3rd 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 during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Forum Energy Technologies during the fourth quarter worth $160,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

Forum Energy Technologies Price Performance

NYSE:FET traded up $0.57 during mid-day trading on Tuesday, reaching $19.94. 168,254 shares of the 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. The business has a fifty day moving average price of $17.02 and a 200 day moving average price of $16.16. Forum Energy Technologies has a 1-year low of $12.83 and a 1-year high of $20.85. The firm has a market capitalization of $244.86 million, a PE ratio of -4.71 and a beta of 2.38.

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.