Forum Energy Technologies (NYSE:FET) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Forum Energy Technologies, Inc. (NYSE:FET) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.88 and traded as high as $19.37. Forum Energy Technologies shares last traded at $18.62, with a volume of 99,736 shares.

Forum Energy Technologies Stock Performance

The firm has a market cap of $228.73 million, a price-to-earnings ratio of -4.40 and a beta of 2.40. 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’s 50 day moving average is $15.36 and its 200 day moving average is $15.88.

Insider Transactions at Forum Energy Technologies

In other news, Director Louis Raspino sold 4,950 shares of Forum Energy Technologies stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total transaction of $76,279.50. Following the completion of the sale, the director now owns 16,121 shares of the company’s stock, valued at approximately $248,424.61. This trade represents a 23.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Forum Energy Technologies

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in Forum Energy Technologies by 19.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,691 shares of the oil and gas company’s stock valued at $939,000 after purchasing an additional 9,090 shares during the period. Rhumbline Advisers raised its position in shares of Forum Energy Technologies by 24.5% in the second quarter. Rhumbline Advisers now owns 17,483 shares of the oil and gas company’s stock valued at $295,000 after buying an additional 3,437 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Forum Energy Technologies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 438,899 shares of the oil and gas company’s stock valued at $7,400,000 after buying an additional 25,982 shares during the period. Renaissance Technologies LLC grew its position in Forum Energy Technologies by 21.8% during the second quarter. Renaissance Technologies LLC now owns 79,900 shares of the oil and gas company’s stock worth $1,347,000 after buying an additional 14,300 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in Forum Energy Technologies by 123.9% during the 2nd quarter. Squarepoint Ops LLC now owns 31,044 shares of the oil and gas company’s stock worth $523,000 after acquiring an additional 17,177 shares during the period. 65.60% of the stock is owned by institutional investors.

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.