Forum Energy Technologies Inc (NYSE:FET) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 3,370,000 shares, a growth of 16.2% from the January 15th total of 2,900,000 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average trading volume of 918,400 shares, the short-interest ratio is currently 3.7 days.

A number of analysts recently weighed in on FET shares. Barclays reaffirmed a “hold” rating and set a $1.75 target price on shares of Forum Energy Technologies in a report on Friday, December 13th. Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a report on Tuesday. Finally, ValuEngine raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $2.56.

In other news, CEO C Christopher Gaut bought 312,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $1.28 per share, with a total value of $400,000.00. Following the acquisition, the chief executive officer now owns 2,127,833 shares of the company’s stock, valued at approximately $2,723,626.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew L. Waite bought 585,938 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $1.28 per share, for a total transaction of $750,000.64. Following the acquisition, the director now directly owns 656,150 shares in the company, valued at approximately $839,872. The disclosure for this purchase can be found here. Corporate insiders own 28.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in Forum Energy Technologies by 9,463.3% in the 3rd quarter. Millennium Management LLC now owns 5,791,415 shares of the oil and gas company’s stock worth $8,976,000 after buying an additional 5,730,856 shares in the last quarter. BlackRock Inc. grew its stake in Forum Energy Technologies by 2.4% in the 2nd quarter. BlackRock Inc. now owns 5,781,558 shares of the oil and gas company’s stock worth $19,773,000 after buying an additional 137,360 shares in the last quarter. FMR LLC boosted its stake in shares of Forum Energy Technologies by 81.7% in the 1st quarter. FMR LLC now owns 3,014,397 shares of the oil and gas company’s stock valued at $15,404,000 after purchasing an additional 1,355,397 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Forum Energy Technologies by 501.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,441,643 shares of the oil and gas company’s stock valued at $3,785,000 after purchasing an additional 2,035,443 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Forum Energy Technologies by 112.2% in the 4th quarter. Panagora Asset Management Inc. now owns 1,271,394 shares of the oil and gas company’s stock valued at $2,136,000 after purchasing an additional 672,199 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

FET stock traded down $0.12 during midday trading on Friday, reaching $1.02. The company had a trading volume of 674,614 shares, compared to its average volume of 702,046. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.09 and a quick ratio of 1.11. Forum Energy Technologies has a 1 year low of $0.88 and a 1 year high of $6.78. The company has a market capitalization of $125.93 million, a P/E ratio of -0.12 and a beta of 2.55. The firm has a 50-day moving average price of $1.41 and a 200-day moving average price of $1.49.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). Forum Energy Technologies had a negative return on equity of 0.34% and a negative net margin of 91.13%. The company had revenue of $199.80 million during the quarter, compared to analysts’ expectations of $215.96 million. On average, equities analysts predict that Forum Energy Technologies will post -0.19 EPS for the current year.

Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.

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