Forum Energy Technologies (NYSE:FET) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Forum Energy Technologies, Inc. (NYSE:FET) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.73 and traded as high as $19.81. Forum Energy Technologies shares last traded at $19.70, with a volume of 85,887 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Forum Energy Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

Forum Energy Technologies Stock Performance

The company has a market cap of $243.70 million, a PE ratio of -1.79 and a beta of 0.80. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $15.36 and its two-hundred day moving average is $16.73.

Forum Energy Technologies (NYSE:FET) last issued its earnings results on Thursday, May 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.39). The firm had revenue of $193.30 million during the quarter, compared to the consensus estimate of $196.45 million. Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%. During the same period last year, the firm posted ($0.12) earnings per share.

Hedge Funds Weigh In On Forum Energy Technologies

Several institutional investors have recently made changes to their positions in FET. Headlands Technologies LLC raised its position in shares of Forum Energy Technologies by 196.6% in the 1st quarter. Headlands Technologies LLC now owns 1,237 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 820 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Forum Energy Technologies by 63.7% in the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 859 shares during the period. Empowered Funds LLC boosted its position in 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 worth $280,000 after purchasing an additional 1,127 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Forum Energy Technologies by 126.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company’s stock worth $37,000 after buying an additional 1,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Forum Energy Technologies by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,342 shares of the oil and gas company’s stock valued at $671,000 after acquiring an additional 1,480 shares during the period. 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.