Forum Energy Technologies (NYSE:FET) Upgraded at StockNews.com

StockNews.com upgraded shares of Forum Energy Technologies (NYSE:FET) from a hold rating to a buy rating in a research report released on Wednesday.

Forum Energy Technologies Stock Up 0.0 %

FET stock opened at $18.64 on Wednesday. The stock has a 50-day simple moving average of $17.64 and a two-hundred day simple moving average of $16.31. Forum Energy Technologies has a twelve month low of $12.83 and a twelve month high of $20.85. The firm has a market capitalization of $229.01 million, a PE ratio of -1.70 and a beta of 2.38. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, February 20th. The oil and gas company reported ($0.48) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.58). The firm had revenue of $201.00 million for the quarter, compared to analysts’ expectations of $201.85 million. Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%.

Insider Transactions at Forum Energy Technologies

In related news, Director Louis Raspino sold 4,950 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total transaction of $76,279.50. Following the completion of the transaction, the director now directly owns 16,121 shares in the company, valued at $248,424.61. The trade was a 23.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.20% of the company’s stock.

Institutional Trading of Forum Energy Technologies

Several institutional investors and hedge funds have recently modified their holdings of FET. Russell Investments Group Ltd. grew its holdings in shares of Forum Energy Technologies by 63.7% during the fourth quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 859 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Forum Energy Technologies by 126.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company’s stock worth $37,000 after buying an additional 1,319 shares in the last quarter. Hsbc Holdings PLC grew its stake in Forum Energy Technologies by 7.5% in the 4th quarter. Hsbc Holdings PLC now owns 26,722 shares of the oil and gas company’s stock worth $408,000 after buying an additional 1,862 shares in the last quarter. Barclays PLC increased its holdings in shares of Forum Energy Technologies by 7.7% in the 4th quarter. Barclays PLC now owns 29,851 shares of the oil and gas company’s stock worth $462,000 after buying an additional 2,137 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Forum Energy Technologies by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 2,479 shares in the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.

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.