Shares of Forum Energy Technologies, Inc. (NYSE:FET – Get Rating) topped its two-hundred-day moving average during Tuesday’s trading. The stock has a two-hundred-day moving average of $20.51 and is trading as low as $24.01. Shares of Forum Energy Technologies last traded at $23.01, with volume at 33,610 shares.
Separately, StockNews.com began covering Forum Energy Technologies shares in a report on Thursday, March 31. They set a “holding” rating for the company.
The company’s fifty-day moving average price is $22.52 and its 200-day moving average price is $20.51. The company has a debt ratio of 0.74, a quick ratio of 1.00 and a current ratio of 2.38. The company has a market capitalization of $131.64 million, a price-earnings ratio of -2.09 and a beta of 3.42.
Forum Energy Technologies (NYSE:FET – Get Rating) released its quarterly results for the last time on Thursday, May 5. The oil and gas company reported EPS ($2.00) for the quarter. Forum Energy Technologies recorded a negative net margin of 10.69% and a negative return on equity of 15.30%. The company had revenue of $155.20 million in the quarter.
In related news, insider Scf Partners, Inc. sold 3,602 shares of the company in a trade that took place on Monday, March 28. The shares were sold at an average price of $23.02, for a total value of $82,918.04. The transaction was disclosed in a filing with the SEC, accessible via this hyperlink. Insiders sold a total of 77,078 shares of the company worth $1,822,741 over the past 90 days. 11.00% of the shares are held by insiders.
Hedge funds have recently been buying and selling shares of the company. State Street Corp increased its stake in Forum Energy Technologies by 6.8% in the first quarter. State Street Corp now owns 15,996 shares of the oil and gas company valued at $366,000 after buying an additional 1,022 shares in the last quarter. Northern Trust Corp acquired a new position in shares of Forum Energy Technologies in Q1 worth $204,000. Dimensional Fund Advisors LP increased its holding in shares of Forum Energy Technologies by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 150,797 shares of the oil and gas company valued at $3,453,000 after buying an additional 9,076 shares last quarter. Acadian Asset Management LLC increased its holdings of Forum Energy Technologies shares by 2.0% in the first quarter. Acadian Asset Management LLC now owns 64,082 shares of the oil and gas company worth $1,466,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Forum Energy Technologies by 25.3% in the 1st quarter. Bank of New York Mellon Corp now owns 22,173 shares of the oil and gas company worth $507,000 after buying 4,480 more shares in the last quarter. 44.06% of the shares are held by institutional investors.
Company Profile Forum Energy Technologies (NYSE: FET)
Forum Energy Technologies, Inc. designs, manufactures, and distributes products for the petroleum, natural gas, industrial, and renewable energy industries in the United States and around the world. It operates through three segments: drilling and 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 markets, including applications in the oil and natural gas, renewable energy, defense and communications.
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