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

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 128,300 shares, a growth of 6.5% from the March 31st total of 120,500 shares. Based on an average daily volume of 32,400 shares, the short-interest ratio is currently 4.0 days. Approximately 1.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TheStreet cut shares of Forum Energy Technologies from a "c" rating to a "d" rating in a report on Thursday, February 29th. StockNews.com upgraded shares of Forum Energy Technologies from a "hold" rating to a "buy" rating in a report on Friday, April 12th.

Forum Energy Technologies Stock Up 4.9 %

Shares of Forum Energy Technologies stock traded up $0.91 during trading on Thursday, hitting $19.39. 23,831 shares of the stock traded hands, compared to its average volume of 31,524. The stock has a market cap of $238.11 million, a P/E ratio of -9.99 and a beta of 2.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.13 and a current ratio of 2.59. Forum Energy Technologies has a twelve month low of $17.65 and a twelve month high of $28.73. The company has a fifty day moving average price of $19.24 and a two-hundred day moving average price of $20.72.

Forum Energy Technologies (NYSE:FET - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter. Forum Energy Technologies had a negative return on equity of 0.38% and a negative net margin of 2.56%. The firm had revenue of $185.20 million during the quarter. Equities research analysts predict that Forum Energy Technologies will post 0.13 EPS for the current fiscal year.

Insider Activity

In other Forum Energy Technologies news, EVP John C. Ivascu sold 2,000 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $19.25, for a total value of $38,500.00. Following the completion of the transaction, the executive vice president now owns 51,543 shares of the company's stock, valued at $992,202.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 6.20% of the company's stock.

Institutional Investors Weigh In On Forum Energy Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Forum Energy Technologies by 0.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 253,898 shares of the oil and gas company's stock worth $5,073,000 after buying an additional 806 shares during the period. Icon Wealth Advisors LLC purchased a new position in Forum Energy Technologies in the 4th quarter worth about $2,034,000. Monaco Asset Management SAM increased its position in shares of Forum Energy Technologies by 26.7% during the 3rd quarter. Monaco Asset Management SAM now owns 90,145 shares of the oil and gas company's stock valued at $2,165,000 after purchasing an additional 19,020 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Forum Energy Technologies by 20.4% during the 4th quarter. Panagora Asset Management Inc. now owns 18,795 shares of the oil and gas company's stock valued at $417,000 after purchasing an additional 3,186 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Forum Energy Technologies by 71.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,217 shares of the oil and gas company's stock valued at $438,000 after acquiring an additional 7,599 shares during the period. 65.60% of the stock is owned by hedge funds and other institutional investors.

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.