Forum Energy Technologies (NYSE:FET) Upgraded by StockNews.com to Buy Rating

Forum Energy Technologies (NYSE:FET - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Wednesday.

Forum Energy Technologies Stock Performance

FET traded up $0.00 on Wednesday, hitting $18.64. 79,112 shares of the company's stock were exchanged, compared to its average volume of 67,698. 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 stock has a fifty day moving average of $17.64 and a two-hundred day moving average of $16.31. Forum Energy Technologies has a twelve month low of $12.83 and a twelve month high of $20.85. The firm has a market cap of $229.01 million, a PE ratio of -1.70 and a beta of 2.38.

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

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Insider Transactions at Forum Energy Technologies

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in 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 in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Forum Energy Technologies by 126.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company's stock worth $37,000 after acquiring an additional 1,319 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Forum Energy Technologies by 41.7% in 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 acquiring an additional 2,479 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 3,693 shares during the period. Finally, XTX Topco Ltd bought a new position in Forum Energy Technologies during the 4th quarter valued at $160,000. 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.