Forum Energy Technologies (NYSE:FET) Share Price Crosses Above 200-Day Moving Average of $20.68

Shares of Forum Energy Technologies, Inc. (NYSE:FETGet Rating) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.68 and traded as high as $21.89. Forum Energy Technologies shares last traded at $20.27, with a volume of 23,894 shares trading hands.

Separately, StockNews.com initiated coverage on shares of Forum Energy Technologies in a research report on Thursday, March 31st. They set a “hold” rating for the company.

The business’s 50-day moving average price is $22.50 and its 200-day moving average price is $20.68. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.00 and a current ratio of 2.38. The stock has a market cap of $115.96 million, a P/E ratio of -1.84 and a beta of 3.42.

Forum Energy Technologies (NYSE:FETGet Rating) last released its earnings results on Thursday, May 5th. The oil and gas company reported ($2.00) earnings per share for the quarter. Forum Energy Technologies had a negative net margin of 10.69% and a negative return on equity of 15.30%. The firm had revenue of $155.20 million for the quarter.

In related news, insider Scf Partners, Inc. sold 29,479 shares of Forum Energy Technologies stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of $24.57, for a total transaction of $724,299.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 69,572 shares of company stock worth $1,644,952. 11.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in FET. SCF Partners Inc. purchased a new stake in Forum Energy Technologies in the 1st quarter worth $15,269,000. Monaco Asset Management SAM purchased a new stake in Forum Energy Technologies in the 4th quarter worth $3,559,000. Allspring Global Investments Holdings LLC purchased a new stake in Forum Energy Technologies in the 4th quarter worth $3,489,000. GSA Capital Partners LLP purchased a new stake in Forum Energy Technologies in the 4th quarter worth $457,000. Finally, Clearline Capital LP bought a new stake in shares of Forum Energy Technologies in the 4th quarter worth about $271,000. Institutional investors and hedge funds own 44.06% of the company’s stock.

About Forum Energy Technologies (NYSE:FET)

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 markets, including applications in oil and natural gas, renewable energy, defense, and communications.

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