Allspring Global Investments Holdings LLC Has $5.77 Million Position in Forum Energy Technologies, Inc. (NYSE:FET)

Allspring Global Investments Holdings LLC lifted its stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 3.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 278,331 shares of the oil and gas company’s stock after buying an additional 10,066 shares during the quarter. Allspring Global Investments Holdings LLC owned about 2.25% of Forum Energy Technologies worth $5,770,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Forum Energy Technologies by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 507,263 shares of the oil and gas company’s stock worth $7,857,000 after purchasing an additional 18,236 shares during the last quarter. Tejara Capital Ltd increased its position in Forum Energy Technologies by 5.4% during the 4th quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company’s stock worth $3,571,000 after buying an additional 11,736 shares during the period. Northern Trust Corp lifted its holdings in shares of Forum Energy Technologies by 5.8% during the fourth quarter. Northern Trust Corp now owns 105,301 shares of the oil and gas company’s stock worth $1,631,000 after buying an additional 5,807 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Forum Energy Technologies by 20.4% in the fourth quarter. Renaissance Technologies LLC now owns 105,075 shares of the oil and gas company’s stock valued at $1,628,000 after acquiring an additional 17,775 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Forum Energy Technologies by 57.3% in the fourth quarter. Bank of America Corp DE now owns 103,605 shares of the oil and gas company’s stock valued at $1,605,000 after acquiring an additional 37,744 shares during the period. Institutional investors and hedge funds own 65.60% of the company’s stock.

Forum Energy Technologies Stock Up 0.1%

Shares of NYSE FET opened at $19.49 on Friday. The stock has a 50-day moving average price of $16.72 and a two-hundred day moving average price of $17.16. Forum Energy Technologies, Inc. has a 12 month low of $12.78 and a 12 month high of $21.57. The company has a current ratio of 2.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company has a market cap of $241.09 million, a price-to-earnings ratio of -1.94, a PEG ratio of 2.22 and a beta of 0.84.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, May 1st. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.39). Forum Energy Technologies had a negative return on equity of 2.26% and a negative net margin of 15.35%. The company had revenue of $193.30 million for the quarter, compared to the consensus estimate of $196.45 million. During the same period in the previous year, the firm posted ($0.12) EPS.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Forum Energy Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

Forum Energy Technologies Company Profile

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.