Forum Energy Technologies (NYSE:FET) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of Forum Energy Technologies (NYSE:FET) from a buy rating to a hold rating in a research note released on Monday.

Separately, TheStreet cut shares of Forum Energy Technologies from a c rating to a d rating in a research report on Thursday, February 29th.

Forum Energy Technologies Trading Down 0.6 %

Shares of FET stock opened at $19.03 on Monday. The stock has a market cap of $233.76 million, a price-to-earnings ratio of -8.06 and a beta of 2.57. The company has a quick ratio of 1.13, a current ratio of 2.59 and a debt-to-equity ratio of 0.31. Forum Energy Technologies has a fifty-two week low of $17.65 and a fifty-two week high of $28.73. The firm’s 50 day moving average price is $19.20 and its two-hundred day moving average price is $20.56.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Thursday, February 29th. The oil and gas company reported ($0.39) earnings per share for the quarter. The business had revenue of $185.20 million for the quarter. Forum Energy Technologies had a negative net margin of 3.42% and a negative return on equity of 0.96%. On average, analysts anticipate that Forum Energy Technologies will post 0.13 EPS for the current year.

Insider Transactions at Forum Energy Technologies

In other news, EVP John C. Ivascu sold 2,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $19.25, for a total transaction of $38,500.00. Following the transaction, the executive vice president now directly owns 51,543 shares of the company’s stock, valued at $992,202.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Forum Energy Technologies during the third quarter worth $114,000. Barclays PLC lifted its position in shares of Forum Energy Technologies by 91.8% during the third quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 3,344 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Forum Energy Technologies in the first quarter worth $221,000. Pickering Energy Partners LP bought a new stake in shares of Forum Energy Technologies in the fourth quarter worth $279,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Forum Energy Technologies by 25.5% in the third quarter. Panagora Asset Management Inc. now owns 15,609 shares of the oil and gas company’s stock worth $375,000 after buying an additional 3,176 shares during 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.