Forum Energy Technologies (NYSE:FET) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Forum Energy Technologies (NYSE:FET) from a hold rating to a buy rating in a research note published on Friday.

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

Forum Energy Technologies Price Performance

Forum Energy Technologies stock opened at $31.40 on Friday. The stock has a market cap of $357.27 million, a price-to-earnings ratio of -3.53, 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. The business has a 50-day simple moving average of $28.65 and a 200 day simple moving average of $23.33. Forum Energy Technologies has a 52 week low of $12.78 and a 52 week high of $33.06.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. Forum Energy Technologies had a negative return on equity of 2.51% and a negative net margin of 13.65%.The firm had revenue of $196.23 million during the quarter, compared to the consensus estimate of $194.35 million.

Institutional Investors Weigh In On Forum Energy Technologies

A number of institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System bought a new position in shares of Forum Energy Technologies during the 3rd quarter valued at $27,000. Headlands Technologies LLC boosted its position in Forum Energy Technologies by 196.6% during the first quarter. Headlands Technologies LLC now owns 1,237 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 820 shares during the period. Federated Hermes Inc. grew its stake 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. Tower Research Capital LLC TRC grew its stake in shares of Forum Energy Technologies by 558.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 1,771 shares during the last quarter. Finally, Osaic Holdings Inc. purchased a new position in shares of Forum Energy Technologies in the second quarter worth about $78,000. Hedge funds and other institutional investors 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.