Short Interest in Forgent Power Solutions, Inc. (NYSE:FPS) Rises By 91.2%

Forgent Power Solutions, Inc. (NYSE:FPS) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 12,850,918 shares, a growth of 91.2% from the June 15th total of 6,721,911 shares. Approximately 4.2% of the company’s stock are short sold. Based on an average daily volume of 5,814,049 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Ratings Changes

A number of research firms have weighed in on FPS. Wolfe Research reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Forgent Power Solutions in a research note on Thursday, July 9th. Robert W. Baird began coverage on shares of Forgent Power Solutions in a report on Wednesday. They issued an “outperform” rating and a $55.00 target price on the stock. TD Securities reaffirmed a “buy” rating and issued a $63.00 price target on shares of Forgent Power Solutions in a research report on Friday, May 15th. Weiss Ratings upgraded Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Finally, KeyCorp increased their price objective on Forgent Power Solutions from $41.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $56.75.

Forgent Power Solutions Stock Up 0.8%

Shares of NYSE FPS traded up $0.32 during trading on Friday, hitting $39.90. The stock had a trading volume of 21,013,416 shares, compared to its average volume of 5,889,424. The company’s fifty day moving average price is $51.52. The firm has a market capitalization of $12.15 billion and a P/E ratio of 265.97. Forgent Power Solutions has a 12 month low of $25.95 and a 12 month high of $66.00.

About Forgent Power Solutions

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.