Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.52 and traded as high as $21.17. Forum Energy Technologies shares last traded at $20.60, with a volume of 63,994 shares trading hands.
Wall Street Analyst Weigh In
Separately, StockNews.com cut Forum Energy Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th.
View Our Latest Analysis on FET
Forum Energy Technologies Price Performance
The stock's fifty day moving average price is $18.67 and its 200-day moving average price is $16.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87. The firm has a market cap of $249.29 million, a price-to-earnings ratio of -1.85 and a beta of 2.33.
Forum Energy Technologies (NYSE:FET - Get Free Report) last announced its earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 16.57% and a negative return on equity of 2.39%.
Insider Buying and Selling
In other news, CEO Neal Lux acquired 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 completion of the acquisition, the chief executive officer now owns 212,250 shares in the company, valued at approximately $3,746,212.50. The trade was a 4.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of FET. Russell Investments Group Ltd. lifted its stake in Forum Energy Technologies by 63.7% in the fourth quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company's stock valued at $34,000 after acquiring an additional 859 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Forum Energy Technologies by 126.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company's stock worth $37,000 after purchasing an additional 1,319 shares during the period. Hsbc Holdings PLC raised its position in shares of Forum Energy Technologies by 7.5% in the fourth quarter. Hsbc Holdings PLC now owns 26,722 shares of the oil and gas company's stock valued at $408,000 after purchasing an additional 1,862 shares during the period. Barclays PLC lifted its position in Forum Energy Technologies by 7.7% during the 4th quarter. Barclays PLC now owns 29,851 shares of the oil and gas company's stock worth $462,000 after acquiring an additional 2,137 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Forum Energy Technologies by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company's stock worth $130,000 after purchasing an additional 2,479 shares during the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.
About Forum Energy Technologies
(
Get Free Report)
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.
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