Forum Energy Technologies (NYSE:FET) Shares Pass Above Two Hundred Day Moving Average of $25.16

Forum Energy Technologies, Inc. (NYSE:FET – Get Rating) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.16 and traded as high as $29.80. Forum Energy Technologies shares last traded at $29.38, with a volume of 111,698 shares.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a report on Friday, December 2nd.

Forum Energy Technologies Trading Up 0.9 %

The stock’s fifty day simple moving average is $29.17 and its 200-day simple moving average is $25.16. The firm has a market cap of $168.41 million, a PE ratio of -13.92 and a beta of 2.88. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.43 and a quick ratio of 1.05.

Forum Energy Technologies (NYSE:FET – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter. The company had revenue of $181.80 million during the quarter. Forum Energy Technologies had a negative return on equity of 9.47% and a negative net margin of 0.46%.

Insider Buying and Selling

In other Forum Energy Technologies news, Director Michael Mcshane bought 2,500 shares of Forum Energy Technologies stock in a transaction that occurred on Monday, December 19th. The stock was purchased at an average price of $29.83 per share, with a total value of $74,575.00. Following the completion of the acquisition, the director now directly owns 8,436 shares in the company, valued at approximately $251,645.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP raised its holdings in shares of Forum Energy Technologies by 32.6% during the third quarter. Two Sigma Investments LP now owns 27,875 shares of the oil and gas company’s stock worth $592,000 after purchasing an additional 6,856 shares during the last quarter. Vanguard Group Inc. grew its position in Forum Energy Technologies by 37.4% during the third quarter. Vanguard Group Inc. now owns 262,651 shares of the oil and gas company’s stock valued at $5,579,000 after buying an additional 71,558 shares during the period. Parian Global Management LP acquired a new stake in Forum Energy Technologies during the third quarter valued at $467,000. Dimensional Fund Advisors LP grew its position in Forum Energy Technologies by 7.6% during the third quarter. Dimensional Fund Advisors LP now owns 171,642 shares of the oil and gas company’s stock valued at $3,646,000 after buying an additional 12,115 shares during the period. Finally, SailingStone Capital Partners LLC acquired a new stake in Forum Energy Technologies during the second quarter valued at $981,000. Hedge funds and other institutional investors own 37.41% of the company’s stock.

Forum Energy Technologies Company Profile

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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.