Forum Energy Technologies, Inc. (NYSE:FET – Get Free Report) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 186,600 shares, an increase of 22.8% from the May 31st total of 151,900 shares. Based on an average daily trading volume, of 32,400 shares, the short-interest ratio is currently 5.8 days. Currently, 1.7% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered Forum Energy Technologies from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.
View Our Latest Stock Analysis on FET
Forum Energy Technologies Price Performance
Forum Energy Technologies (NYSE:FET – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.69. The company had revenue of $202.40 million during the quarter, compared to the consensus estimate of $211.60 million. Forum Energy Technologies had a negative net margin of 3.42% and a negative return on equity of 0.94%.
Institutional Trading of Forum Energy Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in Forum Energy Technologies by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 5,311 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 581 shares during the last quarter. Barclays PLC increased its holdings in shares of Forum Energy Technologies by 91.8% during the 3rd quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock worth $168,000 after buying an additional 3,344 shares during the last quarter. Empowered Funds LLC acquired a new position in Forum Energy Technologies in the first quarter valued at approximately $221,000. Pickering Energy Partners LP purchased a new position in Forum Energy Technologies in the fourth quarter worth approximately $279,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Forum Energy Technologies by 71.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,217 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 7,599 shares during the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.
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.
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