Neal Lux Buys 9,129 Shares of Forum Energy Technologies, Inc. (NYSE:FET) Stock

Forum Energy Technologies, Inc. (NYSE:FET) CEO Neal Lux purchased 9,129 shares of Forum Energy Technologies stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $17.65 per share, with a total value of $161,126.85. Following the transaction, the chief executive officer now owns 212,250 shares in the company, valued at approximately $3,746,212.50. The trade was a 4.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Forum Energy Technologies Trading Up 1.9 %

NYSE:FET opened at $19.83 on Wednesday. Forum Energy Technologies, Inc. has a twelve month low of $12.83 and a twelve month high of $20.54. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $18.22 and a two-hundred day moving average price of $16.37. The company has a market cap of $244.89 million, a P/E ratio of -1.81 and a beta of 2.33.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Forum Energy Technologies

Several large investors have recently made changes to their positions in the stock. Two Sigma Advisers LP boosted its holdings in shares of Forum Energy Technologies by 90.6% in the 4th quarter. Two Sigma Advisers LP now owns 27,985 shares of the oil and gas company’s stock valued at $433,000 after buying an additional 13,300 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of Forum Energy Technologies by 146.0% in the 4th quarter. Two Sigma Investments LP now owns 37,493 shares of the oil and gas company’s stock valued at $581,000 after buying an additional 22,249 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Forum Energy Technologies by 25.9% in the 4th quarter. Millennium Management LLC now owns 44,271 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 9,120 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Forum Energy Technologies by 8.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 72,331 shares of the oil and gas company’s stock valued at $1,120,000 after buying an additional 5,807 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Forum Energy Technologies by 57.3% in the 4th 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 buying an additional 37,744 shares during the last quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.

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.