Forum Energy Technologies (NYSE:FET) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Forum Energy Technologies, Inc. (NYSE:FET)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.12 and traded as high as $17.65. Forum Energy Technologies shares last traded at $17.60, with a volume of 73,474 shares.

Forum Energy Technologies Price Performance

The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $216.10 million, a PE ratio of -4.16 and a beta of 2.38. The firm has a 50 day moving average price of $16.58 and a 200 day moving average price of $16.12.

Insider Transactions at Forum Energy Technologies

In related news, Director Louis Raspino sold 4,950 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $15.41, for a total value of $76,279.50. Following the completion of the transaction, the director now owns 16,121 shares of the company’s stock, valued at approximately $248,424.61. This represents a 23.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FET. Allspring Global Investments Holdings LLC boosted its holdings in Forum Energy Technologies by 4.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,858 shares of the oil and gas company’s stock worth $4,141,000 after buying an additional 12,449 shares during the period. Crossingbridge Advisors LLC bought a new position in Forum Energy Technologies in the 3rd quarter worth $3,721,000. Icon Wealth Advisors LLC boosted its holdings in Forum Energy Technologies by 44.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company’s stock worth $1,419,000 after buying an additional 28,225 shares during the period. SCF Partners Inc. bought a new position in Forum Energy Technologies in the 3rd quarter worth $12,843,000. Finally, State Street Corp boosted its holdings in Forum Energy Technologies by 6.9% in the 3rd quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock worth $3,068,000 after buying an additional 12,785 shares during the period. Institutional investors 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.