A number of other hedge funds have also bought and sold shares of the business. Rehmann Capital Advisory Group boosted its position in shares of Forum Energy Technologies by 920.2% during the third quarter. Rehmann Capital Advisory Group now owns 10,784 shares of the oil and gas company’s stock worth $1,042,000 after buying an additional 9,727 shares during the period. Jefferies Group LLC purchased a new position in shares of Forum Energy Technologies during the third quarter worth $112,000. CWM Advisors LLC boosted its position in shares of Forum Energy Technologies by 102.0% during the fourth quarter. CWM Advisors LLC now owns 20,257 shares of the oil and gas company’s stock worth $84,000 after buying an additional 10,228 shares during the period. Quantbot Technologies LP purchased a new position in shares of Forum Energy Technologies during the third quarter worth $241,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Forum Energy Technologies during the fourth quarter worth $107,000. 92.02% of the stock is owned by institutional investors.
Royce & Associates LP lifted its stake in Forum Energy Technologies Inc (NYSE:FET) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 433,916 shares of the oil and gas company’s stock after purchasing an additional 46,671 shares during the quarter. Royce & Associates LP owned about 0.40% of Forum Energy Technologies worth $1,792,000 at the end of the most recent reporting period.
A number of research analysts recently issued reports on FET shares. Capital One Financial lowered Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. TheStreet lowered Forum Energy Technologies from a “c-” rating to a “d+” rating in a report on Thursday, December 27th. Gabelli reiterated a “buy” rating on shares of Forum Energy Technologies in a report on Monday, February 11th. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a report on Wednesday, March 6th. Finally, B. Riley reiterated a “neutral” rating on shares of Forum Energy Technologies in a report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.90.
NYSE:FET opened at $5.65 on Thursday. The firm has a market capitalization of $615.42 million, a P/E ratio of 282.50 and a beta of 2.35. Forum Energy Technologies Inc has a 12-month low of $3.51 and a 12-month high of $16.02. The company has a quick ratio of 1.21, a current ratio of 3.23 and a debt-to-equity ratio of 0.50.
Forum Energy Technologies (NYSE:FET) last released its earnings results on Thursday, February 7th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.11. The firm had revenue of $272.90 million during the quarter, compared to analyst estimates of $257.82 million. Forum Energy Technologies had a positive return on equity of 0.16% and a negative net margin of 35.15%. Forum Energy Technologies’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share. Equities research analysts predict that Forum Energy Technologies Inc will post -0.1 earnings per share for the current year.
Forum Energy Technologies Company Profile
Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.
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