7,816 Shares of Forum Energy Technologies, Inc. $FET Acquired by Inspire Investing LLC

Inspire Investing LLC acquired a new stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 7,816 shares of the oil and gas company’s stock, valued at approximately $633,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Range Financial Group LLC bought a new position in shares of Forum Energy Technologies in the 3rd quarter worth approximately $385,000. State of Alaska Department of Revenue purchased a new position in shares of Forum Energy Technologies in the 3rd quarter valued at approximately $28,000. GAMMA Investing LLC boosted its position in shares of Forum Energy Technologies by 39.6% during the third quarter. GAMMA Investing LLC now owns 666 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 189 shares in the last quarter. WINTON GROUP Ltd boosted its position in shares of Forum Energy Technologies by 25.1% during the second quarter. WINTON GROUP Ltd now owns 7,673 shares of the oil and gas company’s stock valued at $385,000 after purchasing an additional 1,539 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Forum Energy Technologies during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Forum Energy Technologies Trading Down 4.5%

NYSE:FET opened at $84.76 on Friday. Forum Energy Technologies, Inc. has a one year low of $26.00 and a one year high of $91.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.19 and a quick ratio of 1.13. The company’s 50-day simple moving average is $82.59 and its 200 day simple moving average is $62.77. The firm has a market capitalization of $953.55 million, a P/E ratio of 33.37, a PEG ratio of 2.77 and a beta of 0.68.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.29. Forum Energy Technologies had a net margin of 3.46% and a return on equity of 14.77%. The business had revenue of $236.81 million for the quarter, compared to analysts’ expectations of $233.35 million. As a group, analysts forecast that Forum Energy Technologies, Inc. will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John C. Ivascu sold 4,300 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $90.14, for a total value of $387,602.00. Following the sale, the executive vice president owned 75,512 shares in the company, valued at $6,806,651.68. This represents a 5.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael Danford sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $78.91, for a total value of $118,365.00. Following the transaction, the senior vice president directly owned 52,639 shares of the company’s stock, valued at approximately $4,153,743.49. This trade represents a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 16,500 shares of company stock worth $1,328,273. Insiders own 7.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FET shares. Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Thursday, October 15th. Finally, Zacks Research lowered Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

About Forum Energy Technologies

Forum Energy Technologies, Inc (NYSE:FET) is a global manufacturer of oilfield and industrial equipment serving the exploration, development and production segments of the energy industry. The company designs and supplies products used in drilling, well completion, production and subsea operations.

Forum’s product offerings include drilling and downhole tools, drilling motors, wireline and well-intervention equipment, pressure-control systems, hydraulic-fracturing and stimulation equipment, artificial-lift products, and subsea remotely operated vehicle systems.