Forum Energy Technologies (NYSE:FET) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Forum Energy Technologies, Inc. (NYSE:FET)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.09 and traded as high as $18.77. Forum Energy Technologies shares last traded at $17.93, with a volume of 46,746 shares trading hands.

Forum Energy Technologies Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87. The stock has a market capitalization of $220.13 million, a P/E ratio of -4.24 and a beta of 2.40. The company has a fifty day moving average of $16.05 and a two-hundred day moving average of $16.09.

Insider Activity

In related news, Director Louis Raspino sold 4,950 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 directly owns 16,121 shares of the company’s stock, valued at $248,424.61. This represents a 23.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Forum Energy Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Forum Energy Technologies by 71.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company’s stock worth $137,000 after buying an additional 3,693 shares in the last quarter. Barclays PLC grew its holdings in Forum Energy Technologies by 86.0% in the 3rd quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock worth $428,000 after buying an additional 12,810 shares in the last quarter. State Street Corp grew 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 in the last quarter. SCF Partners Inc. bought a new position in Forum Energy Technologies in the 3rd quarter worth approximately $12,843,000. Finally, Icon Wealth Advisors LLC grew 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 in the last quarter. 65.60% of the stock is owned by institutional investors.

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.