Insider Selling: Forum Energy Technologies (NYSE:FET) EVP Sells $263,563.92 in Stock

Forum Energy Technologies, Inc. (NYSE:FET) EVP John Ivascu sold 4,392 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $60.01, for a total value of $263,563.92. Following the completion of the transaction, the executive vice president directly owned 81,599 shares in the company, valued at approximately $4,896,755.99. This represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Forum Energy Technologies Price Performance

NYSE FET opened at $57.22 on Friday. The business’s fifty day moving average is $46.99 and its 200 day moving average is $35.44. Forum Energy Technologies, Inc. has a fifty-two week low of $12.78 and a fifty-two week high of $63.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.01 and a current ratio of 2.17. The company has a market capitalization of $644.30 million, a PE ratio of -64.29, a price-to-earnings-growth ratio of 5.34 and a beta of 0.54.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. Forum Energy Technologies had a positive return on equity of 2.40% and a negative net margin of 1.22%.The business had revenue of $202.20 million during the quarter, compared to analysts’ expectations of $190.50 million.

Institutional Trading of Forum Energy Technologies

Several institutional investors have recently made changes to their positions in FET. New York State Teachers Retirement System bought a new stake in Forum Energy Technologies in the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in shares of Forum Energy Technologies during the 4th quarter valued at approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Forum Energy Technologies during the 4th quarter valued at approximately $37,000. Tower Research Capital LLC TRC grew its holdings in shares of Forum Energy Technologies by 558.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 1,771 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Forum Energy Technologies by 166.7% in the third quarter. Federated Hermes Inc. now owns 1,616 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on FET. Wall Street Zen upgraded shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Thursday, January 22nd. Finally, Zacks Research cut shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Forum Energy Technologies Company Profile

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.