GAMMA Investing LLC Has $44,000 Stock Holdings in Forum Energy Technologies, Inc. (NYSE:FET)

GAMMA Investing LLC raised its stake in Forum Energy Technologies, Inc. (NYSE:FET) by 1,911.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,172 shares of the oil and gas company’s stock after buying an additional 2,064 shares during the quarter. GAMMA Investing LLC’s holdings in Forum Energy Technologies were worth $44,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FET. Monaco Asset Management SAM increased its stake in Forum Energy Technologies by 9.8% in the 4th quarter. Monaco Asset Management SAM now owns 75,118 shares of the oil and gas company’s stock valued at $1,164,000 after buying an additional 6,709 shares during the period. Tejara Capital Ltd grew its position in Forum Energy Technologies by 5.4% in the fourth quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company’s stock worth $3,571,000 after acquiring an additional 11,736 shares in the last quarter. American Century Companies Inc. grew its position in Forum Energy Technologies by 41.0% in the fourth quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company’s stock worth $1,114,000 after acquiring an additional 20,925 shares in the last quarter. JPMorgan Chase & Co. grew its position in Forum Energy Technologies by 445.0% in the fourth quarter. JPMorgan Chase & Co. now owns 48,209 shares of the oil and gas company’s stock worth $747,000 after acquiring an additional 39,364 shares in the last quarter. Finally, Diametric Capital LP bought a new stake in Forum Energy Technologies in the fourth quarter worth approximately $350,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

Forum Energy Technologies Stock Performance

FET stock opened at $19.44 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.46 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $240.41 million, a price-to-earnings ratio of -1.94, a P/E/G ratio of 2.17 and a beta of 0.80. Forum Energy Technologies, Inc. has a 12 month low of $12.78 and a 12 month high of $21.57. The firm has a 50 day moving average of $16.17 and a two-hundred day moving average of $16.96.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Thursday, May 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.39). The firm had revenue of $193.30 million for the quarter, compared to the consensus estimate of $196.45 million. Forum Energy Technologies had a negative return on equity of 2.26% and a negative net margin of 15.35%. During the same period in the prior year, the company posted ($0.12) earnings per share.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 6th.

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.