State Street Corp Boosts Stake in Forum Energy Technologies, Inc. (NYSE:FET)

State Street Corp lifted its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 6.9% during the third quarter, HoldingsChannel reports. The firm owned 198,479 shares of the oil and gas company’s stock after purchasing an additional 12,785 shares during the quarter. State Street Corp’s holdings in Forum Energy Technologies were worth $3,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in FET. SCF Partners Inc. purchased a new position in shares of Forum Energy Technologies in the third quarter valued at $12,843,000. Icon Wealth Advisors LLC lifted its holdings in shares of Forum Energy Technologies by 44.4% in the third quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company’s stock worth $1,419,000 after buying an additional 28,225 shares in the last quarter. Crossingbridge Advisors LLC bought a new position in shares of Forum Energy Technologies in the third quarter valued at approximately $3,721,000. Allspring Global Investments Holdings LLC lifted its stake in Forum Energy Technologies by 4.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,858 shares of the oil and gas company’s stock worth $4,141,000 after purchasing an additional 12,449 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Forum Energy Technologies by 123.9% in the second quarter. Squarepoint Ops LLC now owns 31,044 shares of the oil and gas company’s stock worth $523,000 after buying an additional 17,177 shares in the last quarter. Institutional investors own 65.60% of the company’s stock.

Insider Transactions at Forum Energy Technologies

In related news, Director Louis Raspino sold 4,950 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total transaction of $76,279.50. Following the transaction, the director now directly owns 16,121 shares of the company’s stock, valued at approximately $248,424.61. This trade represents a 23.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.20% of the company’s stock.

Forum Energy Technologies Stock Performance

NYSE:FET opened at $15.49 on Wednesday. Forum Energy Technologies, Inc. has a twelve month low of $12.83 and a twelve month high of $23.21. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a market cap of $190.28 million, a P/E ratio of -3.66 and a beta of 2.44. The business’s 50-day moving average price is $14.94 and its two-hundred day moving average price is $15.91.

About Forum Energy Technologies

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.