Forum Energy Technologies (NYSE:FET) Stock Rating Upgraded by

Forum Energy Technologies logoEnergy Technologies Forum (NYSE:FET – Get Rating) was upgraded by research equity analysts at from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Energy Technologies Stock Performance forum

Shares of FET stock opened at $32.00 on Thursday. Forum Energy Technologies has a 12 month low of $16.78 and a 12 month high of $33.52. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.43 and a quick ratio of 1.05. The firm has a market capitalization of $183.42 million, a P/E ratio of -15.17 and a beta of 2.88. The company’s fifty day moving average price is $29.86 and its two-hundred day moving average price is $26.10.

Forum Energy Technologies (NYSE:FET – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The oil and gas company reported ($0.25) EPS for the quarter. Forum Energy Technologies had a negative return on equity of 9.47% and a negative net margin of 0.46%. The firm had revenue of $181.80 million during the quarter.

Insider Activity

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In related news, Director Michael Mcshane bought 2,500 shares of the business’s stock in a transaction dated Monday, December 19th. The shares were acquired at an average price of $29.83 per share, for a total transaction of $74,575.00. Following the purchase, the director now owns 8,436 shares in the company, valued at approximately $251,645.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Forum Energy Technologies

Institutional investors have recently modified their holdings of the stock. Virginia Wealth Management Group Inc. acquired a new stake in shares of Forum Energy Technologies in the 2nd quarter valued at about $28,000. Dorsey Wright & Associates acquired a new stake in shares of Forum Energy Technologies in the 2nd quarter valued at about $37,000. Northern Trust Corp bought a new stake in shares of Forum Energy Technologies during the 1st quarter valued at about $204,000. Citadel Advisors LLC bought a new stake in shares of Forum Energy Technologies during the 2nd quarter valued at about $281,000. Finally, State Street Corp grew its position in shares of Forum Energy Technologies by 6.8% during the 1st quarter. State Street Corp now owns 15,996 shares of the oil and gas company’s stock valued at $366,000 after buying an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.

About Forum Energy Technologies

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Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry. The firm operates through three segments: Drilling & Downhole, Completion, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, downhole, and subsea markets, as well as other markets, such as alternative energy, defense, and communications.

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