Monaco Asset Management SAM Has $974,000 Stock Holdings in Forum Energy Technologies, Inc. $FET

Monaco Asset Management SAM decreased its position in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 4.2% during the 2nd quarter, Holdings Channel reports. The fund owned 50,000 shares of the oil and gas company’s stock after selling 2,206 shares during the quarter. Monaco Asset Management SAM’s holdings in Forum Energy Technologies were worth $974,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FET. PenderFund Capital Management Ltd. raised its holdings in Forum Energy Technologies by 89.7% in the first quarter. PenderFund Capital Management Ltd. now owns 377,679 shares of the oil and gas company’s stock worth $7,595,000 after purchasing an additional 178,557 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Forum Energy Technologies by 3.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 288,079 shares of the oil and gas company’s stock valued at $5,548,000 after buying an additional 9,748 shares in the last quarter. American Century Companies Inc. raised its stake in Forum Energy Technologies by 92.6% during the 1st quarter. American Century Companies Inc. now owns 138,560 shares of the oil and gas company’s stock worth $2,786,000 after buying an additional 66,620 shares during the period. Acadian Asset Management LLC lifted its holdings in Forum Energy Technologies by 995.0% during the first quarter. Acadian Asset Management LLC now owns 54,498 shares of the oil and gas company’s stock worth $1,093,000 after acquiring an additional 49,521 shares in the last quarter. Finally, Nuveen LLC bought a new position in Forum Energy Technologies during the first quarter worth about $720,000. Institutional investors own 65.60% of the company’s stock.

Forum Energy Technologies Stock Down 0.4%

FET stock opened at $28.61 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.41 and a quick ratio of 1.13. The stock has a market capitalization of $325.56 million, a P/E ratio of -3.22, a P/E/G ratio of 7.95 and a beta of 0.85. The business has a 50-day moving average of $27.56 and a 200-day moving average of $21.77. Forum Energy Technologies, Inc. has a fifty-two week low of $12.78 and a fifty-two week high of $33.06.

Forum Energy Technologies (NYSE:FET) last announced its earnings results on Thursday, October 30th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. The business had revenue of $196.23 million for the quarter, compared to analyst estimates of $194.35 million. Forum Energy Technologies had a negative return on equity of 2.51% and a negative net margin of 13.65%.

Analysts Set New Price Targets

Several brokerages have issued reports on FET. Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Wednesday, October 8th. Zacks Research raised Forum Energy Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Sunday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

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.