Forum Energy Technologies, Inc. (NYSE:FET) Short Interest Up 35.6% in February

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 146,400 shares, a growth of 35.6% from the February 13th total of 108,000 shares. Based on an average daily volume of 75,200 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Forum Energy Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th.

Forum Energy Technologies Trading Up 0.5 %

NYSE FET traded up $0.11 during mid-day trading on Thursday, reaching $21.21. 43,067 shares of the stock were exchanged, compared to its average volume of 54,014. Forum Energy Technologies has a 1-year low of $12.83 and a 1-year high of $21.81. The business's fifty day simple moving average is $18.32 and its 200 day simple moving average is $16.41. The stock has a market capitalization of $261.86 million, a PE ratio of -1.93 and a beta of 2.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93.

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Forum Energy Technologies (NYSE:FET - Get Free Report) last announced its earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.58). Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%. The firm had revenue of $201.00 million for the quarter, compared to analyst estimates of $201.85 million.

Insider Activity

In other news, CEO Neal Lux bought 9,129 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $17.65 per share, for a total transaction of $161,126.85. Following the completion of the transaction, the chief executive officer now owns 212,250 shares in the company, valued at $3,746,212.50. The trade was a 4.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Forum Energy Technologies

A number of large investors have recently bought and sold shares of the stock. SCF Partners Inc. purchased a new position in Forum Energy Technologies during the third quarter worth approximately $12,843,000. Dimensional Fund Advisors LP raised its stake in shares of Forum Energy Technologies by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 507,263 shares of the oil and gas company's stock valued at $7,857,000 after acquiring an additional 18,236 shares during the period. Crossingbridge Advisors LLC purchased a new position in shares of Forum Energy Technologies in the 3rd quarter valued at $3,721,000. Tejara Capital Ltd raised its stake in shares of Forum Energy Technologies by 5.4% in the 4th quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company's stock valued at $3,571,000 after acquiring an additional 11,736 shares during the period. Finally, State Street Corp raised its stake in shares of Forum Energy Technologies by 6.9% in 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 acquiring an additional 12,785 shares during the period. Hedge funds and other institutional investors own 65.60% of the company's stock.

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.