Forum Energy Technologies, Inc. (NYSE:FET) Shares Sold by Monaco Asset Management SAM

Key Points

• Monaco Asset Management SAM reduced its holdings in Forum Energy Technologies by 30.5%, selling 22,912 shares during the 1st quarter, leaving it with 52,206 shares worth approximately $1,050,000.
• Forum Energy Technologies reported a quarterly loss, with earnings per share of $0.04, falling short of analysts' expectations of $0.43 and had revenues of $193.30 million against anticipated $196.45 million.
• Shares of Forum Energy Technologies have a current market price of $20.71, having reached a twelve month low of $12.78 and a high of $21.57.

Monaco Asset Management SAM trimmed its position in Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 30.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,206 shares of the oil and gas company's stock after selling 22,912 shares during the period. Monaco Asset Management SAM owned approximately 0.42% of Forum Energy Technologies worth $1,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in shares of Forum Energy Technologies by 63.7% in the fourth quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company's stock worth $34,000 after acquiring an additional 859 shares during the period. Tower Research Capital LLC TRC grew its holdings in Forum Energy Technologies by 126.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 1,319 shares during the period. Hsbc Holdings PLC lifted its position in shares of Forum Energy Technologies by 7.5% in the fourth quarter. Hsbc Holdings PLC now owns 26,722 shares of the oil and gas company's stock valued at $408,000 after acquiring an additional 1,862 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Forum Energy Technologies by 1,911.1% in the first quarter. GAMMA Investing LLC now owns 2,172 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Forum Energy Technologies by 7.7% in the fourth quarter. Barclays PLC now owns 29,851 shares of the oil and gas company's stock valued at $462,000 after acquiring an additional 2,137 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Forum Energy Technologies Trading Down 6.7%

Forum Energy Technologies stock traded down $1.33 during mid-day trading on Friday, hitting $18.38. The company's stock had a trading volume of 143,142 shares, compared to its average volume of 80,005. The firm has a market capitalization of $227.36 million, a PE ratio of -1.83, a price-to-earnings-growth ratio of 2.24 and a beta of 0.88. Forum Energy Technologies, Inc. has a 1 year low of $12.78 and a 1 year high of $21.57. The company has a current ratio of 2.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock's fifty day moving average is $18.70 and its two-hundred day moving average is $17.71.

Forum Energy Technologies (NYSE:FET - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The oil and gas company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.39). Forum Energy Technologies had a negative return on equity of 2.26% and a negative net margin of 15.35%. The firm had revenue of $193.30 million for the quarter, compared to analyst estimates of $196.45 million. During the same quarter last year, the company earned ($0.12) earnings per share.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Forum Energy Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.

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.