Forum Energy Technologies (NYSE:FET) Stock: Insider John Ivascu Sells 700 Shares

Forum Energy Technologies, Inc. (NYSE:FET) EVP John Ivascu sold 700 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $90.08, for a total value of $63,056.00. Following the completion of the sale, the executive vice president directly owned 79,812 shares of the company’s stock, valued at $7,189,464.96. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Forum Energy Technologies Trading Up 1.0%

Shares of Forum Energy Technologies stock opened at $90.85 on Thursday. Forum Energy Technologies, Inc. has a 1 year low of $26.00 and a 1 year high of $91.48. The company’s fifty day simple moving average is $82.30 and its 200-day simple moving average is $62.30. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -605.62, a PEG ratio of 2.72 and a beta of 0.68. The company has a current ratio of 2.19, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49.

Forum Energy Technologies (NYSE:FET) last released its earnings results on Thursday, July 30th. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.56 by $0.60. The firm had revenue of $226.22 million during the quarter, compared to analysts’ expectations of $212.35 million. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. As a group, sell-side analysts expect that Forum Energy Technologies, Inc. will post 4.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Forum Energy Technologies by 39.6% in the 3rd quarter. GAMMA Investing LLC now owns 666 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 189 shares during the period. IFP Advisors Inc lifted its holdings in shares of Forum Energy Technologies by 23.6% during the 2nd quarter. IFP Advisors Inc now owns 1,289 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 246 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Forum Energy Technologies during the 3rd quarter worth about $28,000. Integrated Wealth Concepts LLC bought a new position in shares of Forum Energy Technologies during the 2nd quarter worth about $33,000. Finally, WINTON GROUP Ltd boosted its position in shares of Forum Energy Technologies by 25.1% during the 2nd quarter. WINTON GROUP Ltd now owns 7,673 shares of the oil and gas company’s stock valued at $385,000 after acquiring an additional 1,539 shares in the last quarter. 65.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

FET has been the subject of several research reports. Zacks Research cut shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Thursday, October 15th. Finally, Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 2nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

About Forum Energy Technologies

Forum Energy Technologies, Inc (NYSE:FET) is a global manufacturer of oilfield and industrial equipment serving the exploration, development and production segments of the energy industry. The company designs and supplies products used in drilling, well completion, production and subsea operations.

Forum’s product offerings include drilling and downhole tools, drilling motors, wireline and well-intervention equipment, pressure-control systems, hydraulic-fracturing and stimulation equipment, artificial-lift products, and subsea remotely operated vehicle systems.