82,993 Shares in Forum Energy Technologies Inc (NYSE:FET) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in shares of Forum Energy Technologies Inc (NYSE:FET) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 82,993 shares of the oil and gas company’s stock, valued at approximately $424,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FET. Millennium Management LLC raised its position in shares of Forum Energy Technologies by 243.0% during the fourth quarter. Millennium Management LLC now owns 3,678,074 shares of the oil and gas company’s stock valued at $15,190,000 after buying an additional 2,605,832 shares during the last quarter. Deutsche Bank AG raised its position in shares of Forum Energy Technologies by 128.8% during the fourth quarter. Deutsche Bank AG now owns 1,493,706 shares of the oil and gas company’s stock valued at $6,168,000 after buying an additional 840,775 shares during the last quarter. Sapience Investments LLC raised its position in shares of Forum Energy Technologies by 45.1% during the fourth quarter. Sapience Investments LLC now owns 2,486,120 shares of the oil and gas company’s stock valued at $10,268,000 after buying an additional 772,650 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Forum Energy Technologies during the fourth quarter valued at approximately $2,544,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Forum Energy Technologies by 11.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,493,245 shares of the oil and gas company’s stock valued at $14,428,000 after buying an additional 363,869 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

Several research firms have recently issued reports on FET. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research report on Tuesday, May 14th. Piper Jaffray Companies set a $7.00 price objective on shares of Forum Energy Technologies and gave the company a “buy” rating in a research report on Tuesday, April 9th. Barclays reduced their price objective on shares of Forum Energy Technologies from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. B. Riley reiterated a “neutral” rating on shares of Forum Energy Technologies in a research report on Tuesday, February 19th. Finally, Citigroup upgraded shares of Forum Energy Technologies from a “neutral” rating to a “buy” rating in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Forum Energy Technologies currently has a consensus rating of “Hold” and a consensus target price of $9.63.

Shares of FET opened at $3.49 on Friday. Forum Energy Technologies Inc has a fifty-two week low of $3.32 and a fifty-two week high of $13.40. The firm has a market capitalization of $371.50 million, a P/E ratio of 56.33 and a beta of 2.55. The company has a current ratio of 3.18, a quick ratio of 1.16 and a debt-to-equity ratio of 0.53.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. Forum Energy Technologies had a negative net margin of 37.76% and a positive return on equity of 0.40%. The company had revenue of $271.80 million for the quarter, compared to analysts’ expectations of $264.48 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Forum Energy Technologies’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Forum Energy Technologies Inc will post -0.06 EPS for the current year.

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Forum Energy Technologies Profile

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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Institutional Ownership by Quarter for Forum Energy Technologies (NYSE:FET)

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