Forum Energy Technologies (NYSE:FET) Stock Rating Lowered by StockNews.com

Forum Energy Technologies (NYSE:FET) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, TheStreet lowered shares of Forum Energy Technologies from a “c” rating to a “d” rating in a research note on Thursday, February 29th.

Forum Energy Technologies Price Performance

Shares of NYSE:FET traded up $0.34 during trading on Monday, reaching $18.85. The company had a trading volume of 28,990 shares, compared to its average volume of 31,431. The firm’s fifty day moving average is $19.22 and its 200 day moving average is $20.63. The firm has a market capitalization of $231.48 million, a PE ratio of -7.99 and a beta of 2.57. Forum Energy Technologies has a twelve month low of $17.65 and a twelve month high of $28.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.13 and a current ratio of 2.59.

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

Insider Activity at Forum Energy Technologies

In other news, EVP John C. Ivascu sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 51,543 shares in the company, valued at $992,202.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Forum Energy Technologies

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Forum Energy Technologies by 0.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 253,898 shares of the oil and gas company’s stock valued at $5,073,000 after acquiring an additional 806 shares during the period. Icon Wealth Advisors LLC acquired a new position in Forum Energy Technologies in the 4th quarter valued at approximately $2,034,000. Monaco Asset Management SAM increased its stake in Forum Energy Technologies by 26.7% in the 3rd quarter. Monaco Asset Management SAM now owns 90,145 shares of the oil and gas company’s stock valued at $2,165,000 after buying an additional 19,020 shares during the period. Panagora Asset Management Inc. increased its stake in Forum Energy Technologies by 20.4% in the 4th quarter. Panagora Asset Management Inc. now owns 18,795 shares of the oil and gas company’s stock valued at $417,000 after buying an additional 3,186 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Forum Energy Technologies by 71.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,217 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 7,599 shares during the period. Institutional investors and hedge funds own 65.60% of the company’s stock.

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.