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

Forum Energy Technologies, Inc. (NYSE:FET) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 156,040 shares, a drop of 13.6% from the January 15th total of 180,567 shares. Based on an average daily trading volume, of 237,996 shares, the short-interest ratio is currently 0.7 days. Currently, 1.5% of the company’s shares are short sold. Currently, 1.5% of the company’s shares are short sold. Based on an average daily trading volume, of 237,996 shares, the short-interest ratio is currently 0.7 days.

Forum Energy Technologies Stock Down 0.2%

NYSE:FET traded down $0.11 during mid-day trading on Tuesday, hitting $50.10. The stock had a trading volume of 89,488 shares, compared to its average volume of 199,574. Forum Energy Technologies has a twelve month low of $12.78 and a twelve month high of $50.75. The stock has a 50-day simple moving average of $40.93 and a two-hundred day simple moving average of $32.08. The company has a current ratio of 2.19, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $570.08 million, a PE ratio of -5.30, a PEG ratio of 3.81 and a beta of 0.64.

Analysts Set New Price Targets

Several equities analysts have weighed in on FET shares. Wall Street Zen downgraded Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Zacks Research raised shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Forum Energy Technologies

Large investors have recently bought and sold shares of the business. New York State Teachers Retirement System purchased a new stake in Forum Energy Technologies during the 3rd quarter worth about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Forum Energy Technologies during the 4th quarter worth about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Forum Energy Technologies during the fourth quarter worth approximately $37,000. Tower Research Capital LLC TRC boosted its holdings in Forum Energy Technologies by 558.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 1,771 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Forum Energy Technologies by 166.7% in the third quarter. Federated Hermes Inc. now owns 1,616 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 1,010 shares during the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.

About Forum Energy Technologies

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.