Forum Energy Technologies (NYSE:FET) Lowered to “Hold” at StockNews.com

Forum Energy Technologies (NYSE:FET) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

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

Forum Energy Technologies Stock Up 1.8 %

FET opened at $19.14 on Monday. Forum Energy Technologies has a 1-year low of $17.65 and a 1-year high of $28.73. The stock’s fifty day simple moving average is $19.21 and its 200 day simple moving average is $20.57. The company has a current ratio of 2.59, a quick ratio of 1.13 and a debt-to-equity ratio of 0.31. The stock has a market cap of $235.04 million, a PE ratio of -8.11 and a beta of 2.57.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, February 29th. The oil and gas company reported ($0.39) earnings per share 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 during the quarter. As a group, research analysts expect that Forum Energy Technologies will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other Forum Energy Technologies news, EVP John C. Ivascu sold 2,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $19.25, for a total transaction of $38,500.00. Following the transaction, the executive vice president now owns 51,543 shares in the company, valued at approximately $992,202.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Forum Energy Technologies

Large investors have recently modified their holdings of the stock. Barclays PLC grew its holdings in shares of Forum Energy Technologies by 91.8% during the 3rd quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 3,344 shares in the last quarter. Monaco Asset Management SAM grew its holdings in shares of Forum Energy Technologies by 26.7% during the 3rd quarter. Monaco Asset Management SAM now owns 90,145 shares of the oil and gas company’s stock worth $2,165,000 after purchasing an additional 19,020 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Forum Energy Technologies by 2.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 253,092 shares of the oil and gas company’s stock worth $5,611,000 after purchasing an additional 6,355 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Forum Energy Technologies during the 3rd quarter worth $114,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Forum Energy Technologies by 71.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,217 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 7,599 shares in the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.

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.