Forum Energy Technologies (NYSE:FET) Downgraded by StockNews.com

StockNews.com lowered shares of Forum Energy Technologies (NYSE:FET) from a buy rating to a hold rating in a research report report published on Monday.

Separately, TheStreet downgraded 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 FET opened at $19.03 on Monday. Forum Energy Technologies has a fifty-two week low of $17.65 and a fifty-two week high of $28.73. The firm’s 50 day moving average price is $19.20 and its 200 day moving average price is $20.56. The company has a market cap of $233.76 million, a P/E ratio of -8.06 and a beta of 2.57. The company has a quick ratio of 1.13, a current ratio of 2.59 and a debt-to-equity ratio of 0.31.

Forum Energy Technologies (NYSE:FET) last announced its 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 return on equity of 0.96% and a negative net margin of 3.42%. The business had revenue of $185.20 million for the quarter. On average, research analysts forecast that Forum Energy Technologies will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Forum Energy Technologies

In other Forum Energy Technologies news, EVP John C. Ivascu sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $19.25, for a total value of $38,500.00. Following the sale, the executive vice president now directly owns 51,543 shares of the company’s stock, valued at approximately $992,202.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FET. SG Americas Securities LLC purchased a new position in shares of Forum Energy Technologies in the 3rd quarter valued at $114,000. Barclays PLC grew its position in shares of Forum Energy Technologies by 91.8% in the 3rd quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock valued at $168,000 after buying an additional 3,344 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Forum Energy Technologies in the 1st quarter valued at $221,000. Pickering Energy Partners LP purchased a new position in shares of Forum Energy Technologies in the 4th quarter valued at $279,000. Finally, Panagora Asset Management Inc. grew its position in shares of Forum Energy Technologies by 25.5% in the 3rd quarter. Panagora Asset Management Inc. now owns 15,609 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 3,176 shares during the last quarter. 65.60% of the stock is owned by hedge funds and other institutional investors.

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.