Crossingbridge Advisors LLC Acquires Shares of 240,665 Forum Energy Technologies, Inc. (NYSE:FET)

Crossingbridge Advisors LLC purchased a new position in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 240,665 shares of the oil and gas company's stock, valued at approximately $3,721,000. Forum Energy Technologies comprises 2.9% of Crossingbridge Advisors LLC's holdings, making the stock its 8th largest position. Crossingbridge Advisors LLC owned 1.96% of Forum Energy Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FET. Rhumbline Advisers grew its position in shares of Forum Energy Technologies by 24.5% in the 2nd quarter. Rhumbline Advisers now owns 17,483 shares of the oil and gas company's stock valued at $295,000 after buying an additional 3,437 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Forum Energy Technologies by 123.9% during the second quarter. Squarepoint Ops LLC now owns 31,044 shares of the oil and gas company's stock worth $523,000 after purchasing an additional 17,177 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Forum Energy Technologies by 19.5% during the second quarter. Bank of New York Mellon Corp now owns 55,691 shares of the oil and gas company's stock worth $939,000 after purchasing an additional 9,090 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Forum Energy Technologies by 21.8% during the second quarter. Renaissance Technologies LLC now owns 79,900 shares of the oil and gas company's stock worth $1,347,000 after purchasing an additional 14,300 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Forum Energy Technologies by 4.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,858 shares of the oil and gas company's stock valued at $4,141,000 after purchasing an additional 12,449 shares during the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.

Forum Energy Technologies Stock Performance

NYSE:FET traded up $0.01 during mid-day trading on Tuesday, reaching $15.17. 66,519 shares of the stock were exchanged, compared to its average volume of 43,736. The stock has a market capitalization of $186.35 million, a P/E ratio of -3.59 and a beta of 2.46. Forum Energy Technologies, Inc. has a 1 year low of $12.83 and a 1 year high of $23.82. The company has a 50 day simple moving average of $15.35 and a 200-day simple moving average of $16.43. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

About Forum Energy Technologies

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.