SG Americas Securities LLC Boosts Stock Position in Forum Energy Technologies, Inc. (NYSE:FET)

SG Americas Securities LLC lifted its holdings in Forum Energy Technologies, Inc. (NYSE:FET) by 12.3% in the fourth quarter, HoldingsChannel reports. The firm owned 5,311 shares of the oil and gas company’s stock after purchasing an additional 581 shares during the quarter. SG Americas Securities LLC’s holdings in Forum Energy Technologies were worth $118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FET. Barclays PLC lifted its position in Forum Energy Technologies by 91.8% in the third quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock worth $168,000 after buying an additional 3,344 shares during the last quarter. Monaco Asset Management SAM lifted its position in Forum Energy Technologies by 26.7% in the third quarter. Monaco Asset Management SAM now owns 90,145 shares of the oil and gas company’s stock worth $2,165,000 after buying an additional 19,020 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Forum Energy Technologies by 71.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,217 shares of the oil and gas company’s stock worth $438,000 after buying an additional 7,599 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Forum Energy Technologies by 3.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 246,737 shares of the oil and gas company’s stock worth $5,927,000 after buying an additional 8,587 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in Forum Energy Technologies by 25.5% in the third quarter. Panagora Asset Management Inc. now owns 15,609 shares of the oil and gas company’s stock worth $375,000 after buying an additional 3,176 shares during the last quarter. 65.60% of the stock is owned by hedge funds and other institutional investors.

Forum Energy Technologies Stock Down 0.9 %

NYSE:FET opened at $19.01 on Friday. Forum Energy Technologies, Inc. has a twelve month low of $17.65 and a twelve month high of $28.73. The company has a market cap of $233.44 million, a price-to-earnings ratio of -10.28 and a beta of 2.60. The stock has a fifty day simple moving average of $19.20 and a 200-day simple moving average of $20.97. The company has a current ratio of 2.59, a quick ratio of 1.13 and a debt-to-equity ratio of 0.31.

Forum Energy Technologies (NYSE:FET) last released its earnings results on Thursday, February 29th. The oil and gas company reported ($0.39) earnings per share for the quarter. Forum Energy Technologies had a negative return on equity of 0.38% and a negative net margin of 2.56%. The business had revenue of $185.20 million for the quarter. Analysts anticipate that Forum Energy Technologies, Inc. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

FET has been the subject of a number of analyst reports. StockNews.com upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. TheStreet downgraded Forum Energy Technologies from a “c” rating to a “d” rating in a research report on Thursday, February 29th.

Insider Activity at Forum Energy Technologies

In related news, EVP John C. Ivascu sold 2,000 shares of Forum Energy Technologies stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $19.25, for a total value of $38,500.00. Following the completion of the sale, the executive vice president now directly owns 51,543 shares in the company, valued at $992,202.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.20% of the stock is currently owned by corporate insiders.

About Forum Energy Technologies

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.