Forum Energy Technologies, Inc. (NYSE:FET) Short Interest Up 6.4% in November

Forum Energy Technologies, Inc. (NYSE:FET) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 93,100 shares, an increase of 6.4% from the November 15th total of 87,500 shares. Based on an average daily trading volume, of 50,300 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.9% of the shares of the stock are sold short.

Forum Energy Technologies Trading Down 1.7 %

FET stock traded down $0.26 during midday trading on Tuesday, hitting $14.66. The company had a trading volume of 130,308 shares, compared to its average volume of 46,021. The stock has a market cap of $180.08 million, a price-to-earnings ratio of -3.47 and a beta of 2.44. Forum Energy Technologies has a 52 week low of $12.83 and a 52 week high of $23.82. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average price is $15.04 and its 200 day moving average price is $16.07.

Insiders Place Their Bets

In other news, Director Louis Raspino sold 4,950 shares of Forum Energy Technologies stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total value of $76,279.50. Following the transaction, the director now owns 16,121 shares in the company, valued at approximately $248,424.61. The trade was a 23.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Forum Energy Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Forum Energy Technologies by 0.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 255,409 shares of the oil and gas company’s stock worth $4,306,000 after buying an additional 1,511 shares during the period. Rhumbline Advisers lifted its stake in Forum Energy Technologies by 24.5% in the second quarter. Rhumbline Advisers now owns 17,483 shares of the oil and gas company’s stock worth $295,000 after acquiring an additional 3,437 shares during the period. Bank of New York Mellon Corp increased its position in Forum Energy Technologies by 19.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,691 shares of the oil and gas company’s stock valued at $939,000 after purchasing an additional 9,090 shares during the period. State Street Corp increased its position in Forum Energy Technologies by 6.9% during the 3rd quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock valued at $3,068,000 after purchasing an additional 12,785 shares during the period. Finally, Barclays PLC raised its holdings in Forum Energy Technologies by 86.0% in the 3rd quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 12,810 shares in the last quarter. 65.60% of the stock is currently owned by 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.