PenderFund Capital Management Ltd. Sells 1,000 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

PenderFund Capital Management Ltd. trimmed its position in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 199,122 shares of the oil and gas company’s stock after selling 1,000 shares during the period. Forum Energy Technologies makes up approximately 0.0% of PenderFund Capital Management Ltd.’s holdings, making the stock its 19th largest holding. PenderFund Capital Management Ltd.’s holdings in Forum Energy Technologies were worth $4,415,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Forum Energy Technologies by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 5,311 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 581 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Forum Energy Technologies by 20.4% during the fourth quarter. Panagora Asset Management Inc. now owns 18,795 shares of the oil and gas company’s stock valued at $417,000 after buying an additional 3,186 shares during the period. Barclays PLC boosted its holdings in shares of Forum Energy Technologies by 91.8% during the 3rd quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock valued at $168,000 after buying an additional 3,344 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Forum Energy Technologies by 2.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 253,092 shares of the oil and gas company’s stock worth $5,611,000 after buying an additional 6,355 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Forum Energy Technologies by 71.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,217 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 7,599 shares in the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on FET shares. StockNews.com lowered shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. TheStreet downgraded Forum Energy Technologies from a “c” rating to a “d” rating in a research note on Thursday, February 29th.

Forum Energy Technologies Price Performance

FET opened at $17.94 on Wednesday. The firm has a market cap of $220.30 million, a PE ratio of -7.60 and a beta of 2.46. The stock has a 50-day moving average price of $18.76 and a 200-day moving average price of $19.84. Forum Energy Technologies, Inc. has a 1 year low of $16.10 and a 1 year high of $28.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.83 and a quick ratio of 1.26.

Forum Energy Technologies (NYSE:FET) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.69. The business had revenue of $202.40 million during the quarter, compared to analysts’ expectations of $211.60 million. Forum Energy Technologies had a negative net margin of 3.42% and a negative return on equity of 0.94%. Sell-side analysts predict that Forum Energy Technologies, Inc. will post 0.13 earnings per share for the current fiscal year.

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.