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

Forum Energy Technologies, Inc. (NYSE:FET) was the target of 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. Based on an average daily volume of 75,200 shares, the short-interest ratio is presently 1.9 days. Approximately 1.3% of the company’s stock are short sold.

Insider Transactions at Forum Energy Technologies

In other news, CEO Neal Lux purchased 9,129 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $17.65 per share, with a total value of $161,126.85. Following the purchase, the chief executive officer now directly owns 212,250 shares of the company’s stock, valued at approximately $3,746,212.50. This represents a 4.49 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Forum Energy Technologies

Several large investors have recently modified their holdings of FET. Russell Investments Group Ltd. increased its holdings in Forum Energy Technologies by 63.7% in the fourth quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 859 shares during the last quarter. Tower Research Capital LLC TRC raised 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 in the last quarter. Hsbc Holdings PLC lifted its stake in Forum Energy Technologies by 7.5% during the fourth quarter. Hsbc Holdings PLC now owns 26,722 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 1,862 shares during the last quarter. Barclays PLC boosted its holdings in Forum Energy Technologies by 7.7% in the fourth quarter. Barclays PLC now owns 29,851 shares of the oil and gas company’s stock worth $462,000 after purchasing an additional 2,137 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Forum Energy Technologies by 41.7% during the fourth 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. Institutional investors own 65.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Forum Energy Technologies Stock Up 1.7 %

Shares of FET traded up $0.33 during trading on Monday, reaching $19.39. The company’s stock had a trading volume of 71,000 shares, compared to its average volume of 53,500. The company has a market cap of $239.39 million, a price-to-earnings ratio of -1.77 and a beta of 2.33. 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 has a fifty day moving average of $18.15 and a two-hundred day moving average of $16.36. Forum Energy Technologies has a twelve month low of $12.83 and a twelve month high of $20.54.

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

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.