Forgent Power Solutions, Inc. (NYSE:FPS) Short Interest Up 91.2% in June

Key Points

• Short interest in Forgent Power Solutions jumped 91.2% in June, reaching 12.85 million shares as of June 30. That represents about 4.2% of shares outstanding, with a days-to-cover ratio of 2.2.
• The stock fell 7.0% during Thursday trading to $39.65, on volume above average. FPS remains well below its 50-day moving average of $51.54.
• Wall Street sentiment remains positive overall, with several analysts raising targets and the stock carrying a Moderate Buy consensus rating. The consensus price target is $56.75.

Forgent Power Solutions, Inc. (NYSE:FPS - Get Free Report) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 12,850,918 shares, an increase of 91.2% from the June 15th total of 6,721,911 shares. Approximately 4.2% of the company's shares are sold short. Based on an average daily volume of 5,814,049 shares, the days-to-cover ratio is presently 2.2 days.

Forgent Power Solutions Stock Down 7.0%

Shares of FPS traded down $2.97 during midday trading on Thursday, hitting $39.65. The company had a trading volume of 10,971,327 shares, compared to its average volume of 5,751,856. Forgent Power Solutions has a 1 year low of $25.95 and a 1 year high of $66.00. The firm has a market capitalization of $12.07 billion and a price-to-earnings ratio of 264.36. The company has a 50-day moving average price of $51.54.

Analyst Upgrades and Downgrades

FPS has been the subject of several research analyst reports. Barclays raised their price target on Forgent Power Solutions from $44.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Robert W. Baird started coverage on Forgent Power Solutions in a research report on Wednesday. They issued an "outperform" rating and a $55.00 target price for the company. TD Cowen boosted their price target on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Weiss Ratings raised shares of Forgent Power Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group lifted their price objective on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the company a "buy" rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Forgent Power Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.75.

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.

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