Forum Energy Technologies (NYSE:FET) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Forum Energy Technologies, Inc. (NYSE:FET) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

Forum Energy Technologies Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93. The company has a market cap of $228.73 million, a price-to-earnings ratio of -4.40 and a beta of 2.40. The business has a fifty day moving average price of $15.36 and a 200 day moving average price of $15.88.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SCF Partners Inc. acquired a new position in Forum Energy Technologies in the 3rd quarter worth about $12,843,000. Crossingbridge Advisors LLC bought a new stake in shares of Forum Energy Technologies during the third quarter worth about $3,721,000. Icon Wealth Advisors LLC increased its stake 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 valued at $1,419,000 after buying an additional 28,225 shares during the period. Dimensional Fund Advisors LP raised its holdings in Forum Energy Technologies by 6.3% in the 2nd 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 last quarter. Finally, Squarepoint Ops LLC boosted its position 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 buying an additional 17,177 shares during the period. 65.60% of the stock is currently owned by institutional investors.

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.