Forum Energy Technologies, Inc. (FET) Stock Outlook: The Week That’s Testing Investors

Forum Energy Technologies, Inc. (NYSE:FET) went up to recover about 66.38% since recording its record low price of $3.51. The stock experienced 21.67% jump, arriving at $5.84 on 02/08/2019. During the day, the stock price traveled from $4.91 to $6.04. This company shares are 15.24% off its target price of $6.73 and the current market capitalization stands at $524.02M. The recent change has given its price a 13.99% lead over SMA 50 and -63.56% deficit over its 52-week high. The stock witnessed 7.16% gains, -30.06% declines and -52.71% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found FET’s volatility during a week at 9.06% and during a month it has been found around 6.87%.

Forum Energy Technologies, Inc. (FET) Top Holders

Institutional investors currently hold around $596 million or 97.5% in FET stock. Look at its top three institutional owners. Simmons L E & Associates Inc owns $119.91 million in Forum Energy Technologies, Inc., which represents roughly 22.88% of the company’s market cap and approximately 20.12% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 7,017,172 shares of the stock are valued at $40.98 million. The third largest holder is Blackrock Inc., which currently holds $34.61 million worth of this stock and that ownership represents nearly 6.61% of its market capitalization.

Forum Energy Technologies, Inc. 13F Filings

At the end of September reporting period, 64 institutional holders increased their position in Forum Energy Technologies, Inc. (NYSE:FET) by some 10,899,882 shares, 77 decreased positions by 10,443,993 and 26 held positions by 80,637,571. That puts total institutional holdings at 101,981,446 shares, according to SEC filings. The stock grabbed 15 new institutional investments totaling 4,162,920 shares while 33 institutional investors sold out their entire positions totaling 7,109,701 shares.

Forum Energy Technologies, Inc. (NYSE:FET) Insider Trades

Multiple company employees have indulged in significant insider trading. Forum Energy Technologies, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that President & CEO Iyyanki Prady has acquired 90,000 shares of Forum Energy Technologies, Inc. (FET) in trading session dated Mar. 02, 2018. These shares are worth $956,700 and were traded at $10.63 each. The SEC filing shows that Harris James Whelan performed a sale of 10,284 shares. The EVP & CFO disposed these shares by way of transaction on Jan. 05, 2017. The company’s shares were given away at $24 per share worth to an income of some $246,816 on account of Harris James Whelan.

EVP & CFO, Harris James Whelan, sold 20,000 common shares of Forum Energy Technologies, Inc. (FET) in the open market. In a transaction dated Jan. 04, 2017, the shares were put up for sale at an average price of $24, raking in a sum of $480,000. After this sale, 274,735 common shares of FET are directly owned by the insider, with total stake valued at $1,604,452.

In the transaction dated Dec. 27, 2016, the great number of shares disposed came courtesy the President & COO; Iyyanki Prady disposed a total of 10,000 shares at an average price of $23, amounting to approximately $230,000. The insider now directly owns 129,151 shares worth $754,242.

Forum Energy Technologies, Inc. (FET) Analyst Guide

Several analysts have released their opinion on Forum Energy Technologies, Inc. (NYSE:FET), with 2 analysts believing it is a strong buy. Whereas 9 of them predict the stock is a hold. Also, there are 5 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.44 average brokerage recommendation.