Forum Energy Technologies Inc (NYSE:FET) CEO C Christopher Gaut purchased 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $1.35 per share, for a total transaction of $27,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,827,333 shares of the company’s stock, valued at $2,466,899.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

FET stock traded up $0.04 during trading on Friday, reaching $1.56. The stock had a trading volume of 1,077,215 shares, compared to its average volume of 1,200,232. Forum Energy Technologies Inc has a 52 week low of $1.31 and a 52 week high of $11.67. The stock’s 50 day moving average is $1.85 and its two-hundred day moving average is $4.06. The company has a quick ratio of 1.15, a current ratio of 3.25 and a debt-to-equity ratio of 0.52.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, July 25th. The oil and gas company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Forum Energy Technologies had a negative net margin of 38.63% and a negative return on equity of 0.20%. The firm had revenue of $245.60 million during the quarter, compared to the consensus estimate of $254.91 million. During the same period in the prior year, the company posted ($0.01) EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts forecast that Forum Energy Technologies Inc will post -0.22 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC purchased a new stake in shares of Forum Energy Technologies during the second quarter worth about $35,000. Alambic Investment Management L.P. bought a new stake in shares of Forum Energy Technologies during the 2nd quarter worth approximately $60,000. Menta Capital LLC bought a new stake in shares of Forum Energy Technologies during the 2nd quarter worth approximately $62,000. Pearl River Capital LLC bought a new stake in shares of Forum Energy Technologies during the 1st quarter worth approximately $70,000. Finally, Keystone Financial Group bought a new stake in shares of Forum Energy Technologies during the 1st quarter worth approximately $77,000. 86.99% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on FET. ValuEngine raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. B. Riley set a $4.00 price target on Forum Energy Technologies and gave the company a “hold” rating in a report on Friday, July 12th. Scotiabank set a $1.00 price target on Forum Energy Technologies and gave the company a “hold” rating in a report on Monday, August 26th. Zacks Investment Research downgraded Forum Energy Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, July 26th. Finally, Citigroup lowered their price target on Forum Energy Technologies from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.31.

About Forum Energy Technologies

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 through 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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