Diametric Capital LP Purchases New Shares in Forum Energy Technologies, Inc. (NYSE:FET)

Diametric Capital LP purchased a new stake in Forum Energy Technologies, Inc. (NYSE:FET - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 22,619 shares of the oil and gas company's stock, valued at approximately $350,000. Diametric Capital LP owned 0.18% of Forum Energy Technologies at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Forum Energy Technologies by 445.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,209 shares of the oil and gas company's stock worth $747,000 after purchasing an additional 39,364 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Forum Energy Technologies by 41.0% in the 4th quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company's stock worth $1,114,000 after buying an additional 20,925 shares during the last quarter. Tejara Capital Ltd lifted its holdings in shares of Forum Energy Technologies by 5.4% during the 4th quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company's stock worth $3,571,000 after acquiring an additional 11,736 shares during the last quarter. Monaco Asset Management SAM lifted its holdings in shares of Forum Energy Technologies by 9.8% during the 4th quarter. Monaco Asset Management SAM now owns 75,118 shares of the oil and gas company's stock worth $1,164,000 after acquiring an additional 6,709 shares during the last quarter. Finally, Barclays PLC increased its stake in Forum Energy Technologies by 86.0% in the third quarter. Barclays PLC now owns 27,714 shares of the oil and gas company's stock valued at $428,000 after acquiring an additional 12,810 shares during the last quarter. 65.60% of the stock is currently owned by hedge funds and other institutional investors.

Forum Energy Technologies Price Performance

NYSE:FET traded down $2.47 during mid-day trading on Friday, reaching $15.39. The stock had a trading volume of 157,632 shares, compared to its average volume of 57,778. The stock has a market capitalization of $190.37 million, a P/E ratio of -1.40 and a beta of 1.74. The firm has a 50 day moving average price of $18.66 and a two-hundred day moving average price of $16.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93. Forum Energy Technologies, Inc. has a one year low of $12.83 and a one year high of $21.57.

Forum Energy Technologies (NYSE:FET - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.58). The business had revenue of $201.00 million during the quarter, compared to analysts' expectations of $201.85 million. Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Forum Energy Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th.

Insider Activity

In other news, CEO Neal Lux acquired 9,129 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $17.65 per share, for a total transaction of $161,126.85. Following the completion of the transaction, the chief executive officer now owns 212,250 shares of the company's stock, valued at $3,746,212.50. The trade was a 4.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.20% of the company's stock.

Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & 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 and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.