Louis Raspino Sells 4,950 Shares of Forum Energy Technologies, Inc. (NYSE:FET) Stock

Forum Energy Technologies, Inc. (NYSE:FET) Director Louis Raspino sold 4,950 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total transaction of $76,279.50. Following the completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Forum Energy Technologies Price Performance

Shares of NYSE FET opened at $14.84 on Friday. The firm has a market cap of $182.24 million, a PE ratio of -3.51 and a beta of 2.44. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37. Forum Energy Technologies, Inc. has a 1-year low of $12.83 and a 1-year high of $23.82. The company has a fifty day moving average price of $15.08 and a 200 day moving average price of $16.14.

Hedge Funds Weigh In On Forum Energy Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in Forum Energy Technologies by 0.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 255,409 shares of the oil and gas company’s stock worth $4,306,000 after buying an additional 1,511 shares in the last quarter. Rhumbline Advisers lifted its position in Forum Energy Technologies by 24.5% during the 2nd quarter. Rhumbline Advisers now owns 17,483 shares of the oil and gas company’s stock worth $295,000 after buying an additional 3,437 shares in the last quarter. Vanguard Group Inc. lifted its position in Forum Energy Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 538,148 shares of the oil and gas company’s stock worth $10,752,000 after buying an additional 3,516 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Forum Energy Technologies by 19.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,691 shares of the oil and gas company’s stock worth $939,000 after buying an additional 9,090 shares in the last quarter. Finally, State Street Corp lifted its position in Forum Energy Technologies by 6.9% during the 3rd quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock worth $3,068,000 after buying an additional 12,785 shares in the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.

Forum Energy Technologies Company 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.