Forum Energy Technologies (NYSE:FET) Stock: Insider John Ivascu Sells 4,300 Shares

Forum Energy Technologies, Inc. (NYSE:FET) EVP John Ivascu sold 4,300 shares of Forum Energy Technologies 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 completion of the transaction, the executive vice president owned 75,512 shares of the company’s stock, valued at approximately $6,806,651.68. This trade represents a 5.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Forum Energy Technologies Trading Up 1.4%

Shares of FET traded up $1.28 during midday trading on Tuesday, hitting $90.15. The stock had a trading volume of 147,827 shares. Forum Energy Technologies, Inc. has a 1 year low of $26.00 and a 1 year high of $91.41. The stock’s 50 day moving average is $82.14 and its 200 day moving average is $62.04.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.60. The firm had revenue of $226.22 million during the quarter, compared to the consensus estimate of $212.35 million. As a group, analysts expect that Forum Energy Technologies, Inc. will post 4.01 EPS for the current year.

Hedge Funds Weigh In On Forum Energy Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Investing LLC bought a new position in Forum Energy Technologies during the 3rd quarter worth about $633,000. Range Financial Group LLC bought a new stake in shares of Forum Energy Technologies in the 3rd quarter valued at about $385,000. State of Alaska Department of Revenue bought a new stake in shares of Forum Energy Technologies in the 3rd quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in shares of Forum Energy Technologies by 39.6% in the 3rd 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. Finally, WINTON GROUP Ltd lifted its position in shares of Forum Energy Technologies by 25.1% in the 2nd quarter. WINTON GROUP Ltd now owns 7,673 shares of the oil and gas company’s stock worth $385,000 after purchasing an additional 1,539 shares during the period. Institutional investors own 65.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Zacks Research downgraded shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Thursday, October 15th. Finally, Wall Street Zen raised shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Forum Energy Technologies Company Profile

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.