Forum Energy Technologies, Inc. (NYSE:FET) Short Interest Down 7.5% in January

Forum Energy Technologies, Inc. (NYSE:FET) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 116,600 shares, a decrease of 7.5% from the January 15th total of 126,100 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 73,700 shares, the short-interest ratio is presently 1.6 days.

Forum Energy Technologies Stock Performance

Forum Energy Technologies stock traded up $0.95 during mid-day trading on Monday, reaching $19.36. The company’s stock had a trading volume of 101,967 shares, compared to its average volume of 66,734. The firm’s fifty day moving average price is $16.93 and its two-hundred day moving average price is $16.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93. Forum Energy Technologies has a 12-month low of $12.83 and a 12-month high of $20.85. The company has a market capitalization of $237.69 million, a P/E ratio of -4.58 and a beta of 2.38.

Insider Activity

In other news, Director Louis Raspino sold 4,950 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $15.41, for a total value of $76,279.50. Following the sale, the director now owns 16,121 shares of the company’s stock, valued at $248,424.61. The trade was a 23.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Forum Energy Technologies

Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in Forum Energy Technologies by 63.7% during the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 859 shares during the period. Tower Research Capital LLC TRC grew 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 purchasing an additional 1,319 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Forum Energy Technologies by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 2,479 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Forum Energy Technologies by 71.7% in the third quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 3,693 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Forum Energy Technologies in the fourth quarter worth $160,000. 65.60% of the stock is currently 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.