Forum Energy Technologies (NYSE:FET) Rating Lowered to “Hold” at Wall Street Zen

by · The Markets Daily

Forum Energy Technologies (NYSE:FET – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other equities research analysts have also recently issued reports on FET. Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Wednesday, October 8th. Zacks Research raised shares of Forum Energy Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Forum Energy Technologies currently has a consensus rating of “Reduce”.

Read Our Latest Stock Analysis on Forum Energy Technologies

Forum Energy Technologies Price Performance

FET opened at $29.53 on Friday. The business has a fifty day moving average of $27.62 and a 200 day moving average of $21.92. The stock has a market cap of $335.99 million, a P/E ratio of -3.32, a PEG ratio of 7.95 and a beta of 0.85. The company has a quick ratio of 1.13, a current ratio of 2.41 and a debt-to-equity ratio of 0.47. Forum Energy Technologies has a 52-week low of $12.78 and a 52-week high of $33.06.

Forum Energy Technologies (NYSE:FET – Get Free Report) last released its earnings results on Thursday, October 30th. The oil and gas company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. The business had revenue of $196.23 million for the quarter, compared to analyst estimates of $194.35 million. Forum Energy Technologies had a negative return on equity of 2.51% and a negative net margin of 13.65%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FET. Bailard Inc. lifted its stake in shares of Forum Energy Technologies by 5.3% during the 3rd quarter. Bailard Inc. now owns 13,800 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 700 shares during the last quarter. Headlands Technologies LLC raised its holdings in Forum Energy Technologies by 196.6% in the first quarter. Headlands Technologies LLC now owns 1,237 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 820 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Forum Energy Technologies by 166.7% during the third quarter. Federated Hermes Inc. now owns 1,616 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 1,010 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Forum Energy Technologies in the 3rd quarter valued at about $27,000. Finally, Empowered Funds LLC boosted its holdings in shares of Forum Energy Technologies by 8.8% in the 1st quarter. Empowered Funds LLC now owns 13,908 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 1,127 shares in the last quarter. 65.60% of the stock is owned by institutional investors.

About Forum Energy Technologies

(Get Free Report)

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.

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