Energy Technologies Forum (NYSE:FET) Stock Passes Above 200 Day Moving Average of $24.65

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Forum Energy Technologies logoForum Energy Technologies, Inc. (NYSE:FET – Get Rating)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.65 and trades as high as $31.84. Forum Energy Technologies shares last traded at $31.25, with a volume of 93,827 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating in a research note on Friday, December 2nd.

Energy Technologies Price Performance Forum

The firm has a market capitalization of $179.13 million, a PE ratio of -14.81 and a beta of 2.97. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 2.43. The stock has a fifty day moving average price of $28.41 and a 200-day moving average price of $24.65.

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

Insider Transactions at Forum Energy Technologies

In other Energy Technologies Forum news, Director Michael Mcshane purchased 2,500 shares of the company’s stock in a transaction dated Monday, December 19th. The shares were acquired at an average price of $29.83 per share, for a total transaction of $74,575.00. Following the completion of the purchase, the director now owns 8,436 shares of the company’s stock, valued at $251,645.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Forum Energy Technologies by 37.4% in the 3rd quarter. Vanguard Group Inc. now owns 262,651 shares of the oil and gas company’s stock worth $5,579,000 after buying an additional 71,558 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $3,646,000 after purchasing an additional 12,115 shares during the last quarter. Two Sigma Investments LP lifted its position in 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 valued at $592,000 after purchasing an additional 6,856 shares during the period. Bank of New York Mellon Corp lifted its position in Forum Energy Technologies by 25.3% during the first quarter. Bank of New York Mellon Corp now owns 22,173 shares of the oil and gas company’s stock valued at $507,000 after purchasing an additional 4,480 shares during the period. Finally, State Street Corp boosted its holdings in Forum Energy Technologies by 6.8% in the first quarter. State Street Corp now owns 15,996 shares of the oil and gas company’s stock valued at $366,000 after purchasing an additional 1,022 shares during the last quarter. 37.41% of the stock is currently owned by hedge funds and other institutional investors.

About Forum Energy Technologies

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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, Completion, 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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