Forum Energy Technologies (NYSE:FET) Issues Quarterly Earnings Results

Forum Energy Technologies (NYSE:FET) released its earnings results on Thursday. The oil and gas company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.58), Zacks reports. Forum Energy Technologies had a negative return on equity of 2.00% and a negative net margin of 6.07%.

Forum Energy Technologies Price Performance

Shares of FET traded down $0.13 during trading hours on Thursday, reaching $18.85. The stock had a trading volume of 31,449 shares, compared to its average volume of 67,623. Forum Energy Technologies has a 12 month low of $12.83 and a 12 month high of $20.85. The stock has a market capitalization of $231.47 million, a PE ratio of -4.46 and a beta of 2.38. 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’s 50-day moving average is $17.09 and its two-hundred day moving average is $16.18.

Insider Activity

In other news, Director Louis Raspino sold 4,950 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total value of $76,279.50. Following the completion of the transaction, the director now directly owns 16,121 shares in the company, valued at approximately $248,424.61. This represents a 23.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.20% of the stock is owned by corporate insiders.

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.