Forum Energy Technologies (NYSE:FET) Hits New 12-Month High – What’s Next?

Forum Energy Technologies, Inc. (NYSE:FET)’s stock price reached a new 52-week high on Friday . The company traded as high as $44.76 and last traded at $43.9410, with a volume of 30315 shares traded. The stock had previously closed at $43.48.

Wall Street Analyst Weigh In

FET has been the topic of a number of research analyst reports. Wall Street Zen cut Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Zacks Research raised shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Forum Energy Technologies Trading Up 3.0%

The firm has a market cap of $509.72 million, a P/E ratio of -4.73, a price-to-earnings-growth ratio of 3.26 and a beta of 0.59. The business’s 50 day moving average is $35.80 and its 200-day moving average is $28.76. The company has a quick ratio of 1.01, a current ratio of 2.19 and a debt-to-equity ratio of 0.47.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.08. The company had revenue of $196.23 million during the quarter, compared to analyst estimates of $194.35 million. Forum Energy Technologies had a negative net margin of 14.58% and a negative return on equity of 1.07%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FET. New York State Teachers Retirement System acquired a new position in shares of Forum Energy Technologies in the 3rd quarter worth approximately $27,000. Tower Research Capital LLC TRC raised its position in shares of Forum Energy Technologies by 558.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 1,771 shares in the last quarter. Federated Hermes Inc. lifted its stake in 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 worth $43,000 after purchasing an additional 1,010 shares during the last quarter. Osaic Holdings Inc. acquired a new position in Forum Energy Technologies in the second quarter worth $78,000. Finally, Quantbot Technologies LP bought a new stake in Forum Energy Technologies during the third quarter valued at $182,000. Institutional investors own 65.60% of the company’s stock.

About Forum Energy Technologies

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.