Diametric Capital LP Purchases Shares of 22,619 Forum Energy Technologies, Inc. (NYSE:FET)

Diametric Capital LP bought a new stake in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 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 quarter.

Several other institutional investors also recently modified their holdings of the business. State Street Corp lifted its holdings in Forum Energy Technologies by 6.9% in the third quarter. State Street Corp now owns 198,479 shares of the oil and gas company's stock valued at $3,068,000 after buying an additional 12,785 shares during the period. Barclays PLC lifted its stake in shares of Forum Energy Technologies by 86.0% in the 3rd quarter. Barclays PLC now owns 27,714 shares of the oil and gas company's stock valued at $428,000 after purchasing an additional 12,810 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Forum Energy Technologies by 71.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company's stock worth $137,000 after purchasing an additional 3,693 shares during the last quarter. Tejara Capital Ltd grew its stake in shares of Forum Energy Technologies by 5.4% during the fourth quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company's stock worth $3,571,000 after purchasing an additional 11,736 shares during the period. Finally, Monaco Asset Management SAM increased its holdings in Forum Energy Technologies by 9.8% in the fourth quarter. Monaco Asset Management SAM now owns 75,118 shares of the oil and gas company's stock valued at $1,164,000 after purchasing an additional 6,709 shares during the last quarter. Institutional investors and hedge funds own 65.60% of the company's stock.

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Forum Energy Technologies Trading Down 13.8 %

NYSE:FET traded down $2.47 on Friday, reaching $15.39. The company's stock had a trading volume of 157,632 shares, compared to its average volume of 57,636. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93. The firm has a market cap of $189.36 million, a PE ratio of -1.40 and a beta of 2.33. The business's 50-day moving average price is $18.66 and its two-hundred day moving average price is $16.74. Forum Energy Technologies, Inc. has a 1-year low of $12.83 and a 1-year high of $21.57.

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

Insider Buying and Selling

In other news, CEO Neal Lux bought 9,129 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $17.65 per share, for a total transaction of $161,126.85. Following the purchase, the chief executive officer now owns 212,250 shares of the company's stock, valued at approximately $3,746,212.50. This trade represents a 4.49 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Forum Energy Technologies 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.