Stock Traders Buy High Volume of Forgent Power Solutions Call Options (NYSE:FPS)

Forgent Power Solutions, Inc. (NYSE:FPS) saw unusually large options trading activity on Thursday. Stock traders purchased 4,056 call options on the company. This represents an increase of approximately 103% compared to the typical volume of 2,002 call options.

Analysts Set New Price Targets

FPS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They issued an “overweight” rating and a $40.00 target price for the company. TD Cowen initiated coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They issued a “buy” rating and a $45.00 target price for the company. KeyCorp initiated coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They issued an “overweight” rating and a $41.00 target price for the company. Wall Street Zen upgraded shares of Forgent Power Solutions to a “hold” rating in a research report on Monday, February 16th. Finally, Morgan Stanley assumed coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They issued an “equal weight” rating and a $38.00 target price for the company. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.40.

Forgent Power Solutions Stock Up 10.7%

Shares of FPS traded up $4.86 during mid-day trading on Thursday, hitting $50.38. 4,650,164 shares of the company’s stock were exchanged, compared to its average volume of 4,135,684. The firm’s fifty day simple moving average is $34.37. Forgent Power Solutions has a twelve month low of $25.95 and a twelve month high of $51.00.

Forgent Power Solutions Company Profile

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.