Insider Buying: Forum Energy Technologies, Inc. (NYSE:FET) CEO Purchases 9,129 Shares of Stock

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) CEO Neal Lux purchased 9,129 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $17.65 per share, with a total value of $161,126.85. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Forum Energy Technologies Trading Down 2.2 %

FET stock traded down $0.46 during mid-day trading on Friday, reaching $20.57. 92,117 shares of the stock traded hands, compared to its average volume of 54,367. Forum Energy Technologies, Inc. has a one year low of $12.83 and a one year high of $21.57. 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 business has a 50-day moving average price of $18.42 and a two-hundred day moving average price of $16.44. The stock has a market capitalization of $254.02 million, a PE ratio of -1.87 and a beta of 2.33.

Forum Energy Technologies (NYSE:FET - Get Free Report) last posted 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). Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%. The business had revenue of $201.00 million for the quarter, compared to analysts' expectations of $201.85 million.

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Analyst Ratings Changes

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

Hedge Funds Weigh In On Forum Energy Technologies

A number of hedge funds have recently added to or reduced their stakes in FET. Crossingbridge Advisors LLC bought a new position in Forum Energy Technologies in the third quarter worth approximately $3,721,000. Icon Wealth Advisors LLC lifted its holdings in shares of Forum Energy Technologies by 44.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company's stock worth $1,419,000 after buying an additional 28,225 shares during the period. SCF Partners Inc. bought a new position in shares of Forum Energy Technologies during the 3rd quarter worth $12,843,000. State Street Corp increased its stake in shares of Forum Energy Technologies by 6.9% during 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. Finally, Barclays PLC increased its stake in shares of Forum Energy Technologies by 86.0% during the third quarter. Barclays PLC now owns 27,714 shares of the oil and gas company's stock valued at $428,000 after buying an additional 12,810 shares during the period. 65.60% of the stock is currently owned by institutional investors.

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.