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

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 145,400 shares, a drop of 13.5% from the April 30th total of 168,000 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 71,500 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Forum Energy Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Forum Energy Technologies Price Performance

Shares of NYSE:FET traded down $0.33 during trading on Wednesday, reaching $14.96. 25,989 shares of the company traded hands, compared to its average volume of 62,810. The firm has a market capitalization of $185.06 million, a PE ratio of -1.36 and a beta of 0.73. Forum Energy Technologies has a 52 week low of $12.78 and a 52 week high of $21.57. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company's 50 day moving average is $15.22 and its two-hundred day moving average is $16.54.

Forum Energy Technologies (NYSE:FET - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The oil and gas company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.39). The company had revenue of $193.30 million during the quarter, compared to analyst estimates of $196.45 million. Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%. During the same period last year, the firm earned ($0.12) EPS.

Insider Buying and Selling

In other Forum Energy Technologies news, CEO Neal Lux acquired 9,129 shares of the business's stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $17.65 per share, with a total value of $161,126.85. Following the acquisition, the chief executive officer now directly owns 212,250 shares of the company's stock, valued at approximately $3,746,212.50. This trade represents a 4.49% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is currently owned by insiders.

Institutional Trading of Forum Energy Technologies

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its stake in Forum Energy Technologies by 995.0% during the first quarter. Acadian Asset Management LLC now owns 54,498 shares of the oil and gas company's stock worth $1,093,000 after purchasing an additional 49,521 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Forum Energy Technologies by 53.6% during the 1st quarter. Jane Street Group LLC now owns 19,970 shares of the oil and gas company's stock worth $402,000 after buying an additional 6,971 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Forum Energy Technologies by 8.8% during the 1st quarter. Empowered Funds LLC now owns 13,908 shares of the oil and gas company's stock worth $280,000 after buying an additional 1,127 shares during the last quarter. PenderFund Capital Management Ltd. lifted its position in shares of Forum Energy Technologies by 89.7% during the 1st quarter. PenderFund Capital Management Ltd. now owns 377,679 shares of the oil and gas company's stock worth $7,595,000 after buying an additional 178,557 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Forum Energy Technologies in the first quarter valued at about $486,000. Institutional investors and hedge funds own 65.60% of the company's stock.

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.

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