Forgent Power Solutions, Inc. (NYSE:FPS) Short Interest Up 91.2% in June

Forgent Power Solutions, Inc. (NYSE:FPS) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 12,850,918 shares, a growth of 91.2% from the June 15th total of 6,721,911 shares. Based on an average trading volume of 5,814,049 shares, the days-to-cover ratio is presently 2.2 days. Currently, 4.2% of the company’s stock are short sold.

Forgent Power Solutions Trading Down 7.0%

Shares of FPS stock traded down $2.97 during mid-day trading on Thursday, hitting $39.65. 10,971,327 shares of the company’s stock were exchanged, compared to its average volume of 5,751,856. The stock has a market capitalization of $12.07 billion and a PE ratio of 264.36. The company has a 50-day simple moving average of $51.54. Forgent Power Solutions has a fifty-two week low of $25.95 and a fifty-two week high of $66.00.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. TD Securities reissued a “buy” rating and issued a $63.00 target price on shares of Forgent Power Solutions in a report on Friday, May 15th. Jefferies Financial Group boosted their price objective on Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Zacks Research raised shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. The Goldman Sachs Group boosted their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Robert W. Baird started coverage on shares of Forgent Power Solutions in a research report on Wednesday. They issued an “outperform” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Forgent Power Solutions has an average rating of “Moderate Buy” and a consensus price target of $56.75.

Forgent Power Solutions Company Profile

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.