Monaco Asset Management SAM Sells 2,206 Shares of Forum Energy Technologies, Inc. $FET

Monaco Asset Management SAM lowered its position in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the oil and gas company’s stock after selling 2,206 shares during the quarter. Monaco Asset Management SAM owned approximately 0.40% of Forum Energy Technologies worth $974,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its stake in Forum Energy Technologies by 196.6% during the first quarter. Headlands Technologies LLC now owns 1,237 shares of the oil and gas company’s stock worth $25,000 after buying an additional 820 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Forum Energy Technologies in the 1st quarter worth approximately $206,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Forum Energy Technologies in the 2nd quarter worth approximately $208,000. Empowered Funds LLC grew its position in Forum Energy Technologies by 8.8% during the 1st quarter. Empowered Funds LLC now owns 13,908 shares of the oil and gas company’s stock worth $280,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Forum Energy Technologies by 53.6% during the 1st quarter. Jane Street Group LLC now owns 19,970 shares of the oil and gas company’s stock valued at $402,000 after purchasing an additional 6,971 shares in the last quarter. 65.60% of the stock is owned by institutional investors.

Forum Energy Technologies Stock Down 0.4%

Shares of NYSE FET opened at $28.61 on Friday. The firm has a market capitalization of $325.56 million, a PE ratio of -3.22, a price-to-earnings-growth ratio of 7.95 and a beta of 0.85. The company has a current ratio of 2.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Forum Energy Technologies, Inc. has a 1 year low of $12.78 and a 1 year high of $33.06. The firm’s 50-day moving average is $27.56 and its 200-day moving average is $21.77.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. Forum Energy Technologies had a negative net margin of 13.65% and a negative return on equity of 2.51%. The business had revenue of $196.23 million during the quarter, compared to the consensus estimate of $194.35 million.

Wall Street Analysts Forecast Growth

FET has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Zacks Research raised shares of Forum Energy Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Forum Energy Technologies Profile

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.