Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) CEO Neal Lux acquired 9,129 shares of Forum Energy Technologies stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $17.65 per share, with a total value of $161,126.85. Following the completion of the transaction, the chief executive officer now directly owns 212,250 shares of the company's stock, valued at $3,746,212.50. This trade represents a 4.49 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Forum Energy Technologies Stock Performance
Shares of NYSE FET opened at $19.39 on Tuesday. The business has a fifty day simple moving average of $18.15 and a 200 day simple moving average of $16.36. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $239.39 million, a price-to-earnings ratio of -1.77 and a beta of 2.33. Forum Energy Technologies, Inc. has a one year low of $12.83 and a one year high of $20.54.
Forum Energy Technologies (NYSE:FET - Get Free Report) last issued its earnings results on Thursday, February 20th. The oil and gas company reported ($0.48) EPS 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 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%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Crossingbridge Advisors LLC acquired a new position in Forum Energy Technologies during the third quarter worth $3,721,000. Icon Wealth Advisors LLC raised its stake in Forum Energy Technologies by 44.4% during the third quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company's stock worth $1,419,000 after acquiring an additional 28,225 shares in the last quarter. SCF Partners Inc. acquired a new position in Forum Energy Technologies during the third quarter worth $12,843,000. State Street Corp raised its stake in 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 worth $3,068,000 after acquiring an additional 12,785 shares in the last quarter. Finally, Barclays PLC raised its stake in 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 worth $428,000 after acquiring an additional 12,810 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, StockNews.com cut Forum Energy Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th.
Get Our Latest Analysis on FET
Forum Energy Technologies Company Profile
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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.
Further Reading
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