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

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

Forgent Power Solutions Stock Performance

Shares of FPS stock opened at $39.90 on Friday. The business’s 50 day moving average is $51.52. Forgent Power Solutions has a 12-month low of $25.95 and a 12-month high of $66.00. The stock has a market cap of $12.15 billion and a price-to-earnings ratio of 265.97.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. TD Cowen lifted their target price on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Morgan Stanley boosted their target price on Forgent Power Solutions from $38.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Sunday, May 17th. KeyCorp upped their target price on Forgent Power Solutions from $41.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $60.00 price target on shares of Forgent Power Solutions in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $56.75.

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.