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

StockNews.com lowered shares of Forum Energy Technologies (NYSE:FET - Free Report) from a buy rating to a hold rating in a research report released on Thursday morning.

Forum Energy Technologies Price Performance

Shares of NYSE:FET traded up $0.26 during trading hours on Thursday, hitting $17.52. 47,701 shares of the company's stock traded hands, compared to its average volume of 53,262. Forum Energy Technologies has a 52 week low of $12.83 and a 52 week high of $20.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 1.93. The company's fifty day simple moving average is $17.89 and its two-hundred day simple moving average is $16.35. The company has a market cap of $216.29 million, a price-to-earnings ratio of -1.60 and a beta of 2.33.

Forum Energy Technologies (NYSE:FET - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.58). Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%. The business had revenue of $201.00 million for the quarter, compared to the consensus estimate of $201.85 million.

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Insider Buying and Selling at Forum Energy Technologies

In other Forum Energy Technologies news, Director Louis Raspino sold 4,950 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $15.41, for a total transaction of $76,279.50. Following the completion of the sale, the director now directly owns 16,121 shares of the company's stock, valued at approximately $248,424.61. This represents a 23.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.20% of the company's stock.

Institutional Trading of Forum Energy Technologies

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in Forum Energy Technologies by 63.7% during the fourth 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 in the last quarter. Tower Research Capital LLC TRC lifted its stake 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 valued at $37,000 after buying an additional 1,319 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Forum Energy Technologies by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company's stock valued at $130,000 after buying an additional 2,479 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Forum Energy Technologies by 71.7% during the third quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company's stock valued at $137,000 after buying an additional 3,693 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Forum Energy Technologies during the fourth quarter valued at about $160,000. 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.