Forum Energy Technologies (FET) : Traders are getting increasingly bearish on Forum Energy Technologies (FET), as can be seen in the addition of short positions from 8,105,677 on Jul 29, 2016, to 8,363,845 on August 15, 2016. The net change in shorts is 258,168 shares, an increase of 3.2%. 12 days remain before the expiry. The 10.3% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 713,730. The short interest information was released on Wednesday Aug 24th after the market close.
Forum Energy Technologies (NYSE:FET): The stock opened at $18.13 on Wednesday but the bulls could not build on the opening and the stock topped out at $18.51 for the day. The stock traded down to $17.89 during the day, due to lack of any buying support eventually closed down at $17.95 with a loss of -1.81% for the day. The stock had closed at $18.28 on the previous day. The total traded volume was 713,389 shares.
In a related news, Angelle Evelyn M, director of Forum Energy Technologies, Inc. had purchased 26,000 shares on September 4, 2015 in a transaction. The price per share was $15 and the total amount of the disclosed transaction was $390,000.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Forum Energy Technologies, Inc. is an oilfield products company. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas. Its capital products are targeted at drilling rig equipment for rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells, and downstream capital projects. Its engineered systems are components used on drilling rigs or in the course of subsea operations, while its consumable products are used to maintain operations at well sites in the well construction process, within the supporting infrastructure and at processing centers and refineries. Its segments are Drilling & Subsea and Production & Infrastructure.