Forum Energy Technologies (NYSE:FET) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Forum Energy Technologies, Inc. (NYSE:FET) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $16.52 and traded as high as $21.17. Forum Energy Technologies shares last traded at $20.60, with a volume of 63,994 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

Forum Energy Technologies Price Performance

The stock has a market capitalization of $253.46 million, a price-to-earnings ratio of -1.88 and a beta of 2.33. The company has a fifty day simple moving average of $18.58 and a 200 day simple moving average of $16.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.58). The firm had revenue of $201.00 million for the quarter, compared to analyst estimates of $201.85 million. Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%.

Insiders Place Their Bets

In other news, CEO Neal Lux purchased 9,129 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $17.65 per share, with a total value of $161,126.85. Following the purchase, the chief executive officer now owns 212,250 shares in the company, valued at $3,746,212.50. This represents a 4.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Forum Energy Technologies

Several hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its stake in Forum Energy Technologies by 63.7% during the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 859 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Forum Energy Technologies by 126.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 1,319 shares during the period. Wells Fargo & Company MN lifted its stake in Forum Energy Technologies by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 2,479 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Forum Energy Technologies by 71.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 3,693 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Forum Energy Technologies during the fourth quarter valued at about $160,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

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.