Forum Energy Technologies, Inc. (NYSE: FET – Get Rating) benefited from a significant drop in short-term interest in 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. Approximately 6.0% of the company’s shares are sold short. Based on an average trading volume of 32,800 shares, the short-term interest rate ratio is currently 9.0 days.
Institutional investors weigh in on Forum Energy Technologies
Major investors have recently increased or reduced their stake in the company. Dimensional Fund Advisors LP increased its stake in shares of Forum Energy Technologies by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 150,797 shares of the oil and gas company worth $3,453,000 after buying 9,076 additional shares in the last quarter. 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 valued at $507,000 after buying 4,480 additional shares in the last quarter. State Street Corp increased its stake in shares of Forum Energy Technologies by 6.8% in the 1st quarter. State Street Corp now owns 15,996 shares of the oil and gas company worth $366,000 after buying 1,022 more shares last quarter. Citadel Advisors LLC bought a new stake in shares of Forum Energy Technologies in Q2 at a value of $281,000. Finally, Northern Trust Corp bought a new stake in shares of Forum Energy Technologies in Q1 at a value of $204,000. Hedge funds and other institutional investors hold 44.06% of the company’s shares.
Forum Energy Technology Awards Performance
Forum Energy Technologies stock opened Thursday at $25.78. The company has a market capitalization of $147.49 million, a P/E ratio of -4.31 and a beta of 3.21. Forum Energy Technologies has a one-year low of $14.71 and a one-year high of $26.51. The company has a fifty-day moving average price of $21.04 and a 200-day moving average price of $21.60. The company has a debt ratio of 0.87, a current ratio of 2.63 and a quick ratio of 1.16.
Company Profile 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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