Forum Energy Technologies, Inc. (NYSE:FET) Short Interest Down 10.3% in July
Forum Energy Technologies, Inc. (NYSE:FET – Get Rating) saw a sharp decline in interest in short positions in the month of July. As of July 31, there was short interest totaling 294,700 shares, down 10.3% from the July 15 total of 328,600 shares. Based on an average daily trading volume of 32,800 shares, the short-term interest rate ratio is currently 9.0 days. Approximately 6.0% of the company’s shares are sold short.
Institutional investors weigh in on Forum Energy Technologies
Several large investors have recently changed their stock holdings. State Street Corp increased its stake in Forum Energy Technologies by 6.8% in the first quarter. State Street Corp now owns 15,996 shares of the oil and gas company valued at $366,000 after buying an additional 1,022 shares last quarter. Acadian Asset Management LLC increased its stake in Forum Energy Technologies by 2.0% in the first quarter. Acadian Asset Management LLC now owns 64,082 shares of the oil and gas company worth $1,466,000 after purchasing an additional 1,270 shares in the last quarter. Dorsey Wright & Associates bought a new stake in Forum Energy Technologies in the second quarter for $37,000. Bank of New York Mellon Corp increased its stake in Forum Energy Technologies by 25.3% in the first quarter. Bank of New York Mellon Corp now owns 22,173 shares of the oil and gas company worth $507,000 after buying 4,480 more shares in the last quarter. Finally, Northern Trust Corp bought a new position in shares of Forum Energy Technologies during the first quarter worth approximately $204,000. Hedge funds and other institutional investors hold 44.06% of the company’s shares.
Forum Energy Technologies trades down 2.9%
NYSE FET shares opened at $25.47 on Tuesday. Forum Energy Technologies has a fifty-two week low of $14.71 and a fifty-two week high of $26.51. The company has a quick ratio of 1.16, a current ratio of 2.63 and a debt ratio of 0.87. The company’s 50-day simple moving average is $21.03 and its 200-day simple moving average is $21.54.
About Forum Energy Technologies
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Forum Energy Technologies, Inc. designs, manufactures, and distributes products for the petroleum, natural gas, industrial, and renewable energy industries in the United States and around the world. It operates through three segments: drilling and 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 markets, including applications in the oil and natural gas, renewable energy, defense and communications.
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