Trexquant Investment LP acquired a new stake in Forum Energy Technologies, Inc. (NYSE:FET - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,342 shares of the oil and gas company's stock, valued at approximately $315,000. Trexquant Investment LP owned about 0.17% of Forum Energy Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Diametric Capital LP purchased a new position in shares of Forum Energy Technologies in the 4th quarter valued at about $350,000. JPMorgan Chase & Co. lifted its stake in Forum Energy Technologies by 445.0% in the fourth quarter. JPMorgan Chase & Co. now owns 48,209 shares of the oil and gas company's stock worth $747,000 after acquiring an additional 39,364 shares during the last quarter. American Century Companies Inc. grew its holdings in Forum Energy Technologies by 41.0% during 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 acquiring an additional 20,925 shares in the last quarter. Tejara Capital Ltd increased its position in shares of Forum Energy Technologies by 5.4% in the 4th quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company's stock valued at $3,571,000 after purchasing an additional 11,736 shares during the last quarter. Finally, Monaco Asset Management SAM raised its holdings in shares of Forum Energy Technologies by 9.8% in the 4th 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 in the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.
Forum Energy Technologies Stock Performance
Forum Energy Technologies stock traded up $0.76 during midday trading on Tuesday, hitting $14.33. 76,040 shares of the company's stock were exchanged, compared to its average volume of 60,082. 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 stock has a market cap of $177.26 million, a price-to-earnings ratio of -1.31 and a beta of 1.74. Forum Energy Technologies, Inc. has a 12-month low of $12.78 and a 12-month high of $21.57. The firm's 50 day simple moving average is $18.02 and its 200 day simple moving average is $16.61.
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 for the quarter, missing analysts' consensus estimates of $0.10 by ($0.58). The firm 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 report on Thursday, March 6th.
Get Our Latest Research Report on Forum Energy Technologies
Insider Activity
In other Forum Energy Technologies news, CEO Neal Lux purchased 9,129 shares of the firm's stock in a transaction 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 purchase, the chief executive officer now owns 212,250 shares in the company, valued at approximately $3,746,212.50. This represents a 4.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.20% of the company's stock.
Forum Energy Technologies Profile
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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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