Forum Energy Technologies (NYSE:FET) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Forum Energy Technologies, Inc. (NYSE:FET)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $48.63 and traded as high as $53.35. Forum Energy Technologies shares last traded at $52.0450, with a volume of 109,165 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FET. Zacks Research lowered shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Forum Energy Technologies Price Performance

The business has a fifty day moving average of $57.52 and a 200 day moving average of $48.80. The stock has a market cap of $568.97 million, a PE ratio of -85.34, a P/E/G ratio of 3.10 and a beta of 0.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.23 and a quick ratio of 1.09.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.03. The business had revenue of $208.70 million for the quarter, compared to the consensus estimate of $201.30 million. Forum Energy Technologies had a positive return on equity of 4.15% and a negative net margin of 0.78%. Sell-side analysts anticipate that Forum Energy Technologies, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling at Forum Energy Technologies

In other Forum Energy Technologies news, SVP Michael Dewayne Danford sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $55.49, for a total transaction of $166,470.00. Following the completion of the sale, the senior vice president directly owned 54,139 shares in the company, valued at approximately $3,004,173.11. This trade represents a 5.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of Forum Energy Technologies

Several large investors have recently made changes to their positions in the stock. Keyframe Capital Partners L.P. boosted its stake in shares of Forum Energy Technologies by 8.5% during the 2nd quarter. Keyframe Capital Partners L.P. now owns 848,519 shares of the oil and gas company’s stock worth $16,521,000 after acquiring an additional 66,322 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Forum Energy Technologies by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 626,938 shares of the oil and gas company’s stock valued at $36,775,000 after acquiring an additional 33,802 shares in the last quarter. IES Holdings Inc. acquired a new position in Forum Energy Technologies in the 4th quarter valued at approximately $20,107,000. JPMorgan Chase & Co. raised its holdings in Forum Energy Technologies by 62.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,316 shares of the oil and gas company’s stock valued at $7,006,000 after acquiring an additional 100,720 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Forum Energy Technologies by 5.3% in the 4th quarter. State Street Corp now owns 243,682 shares of the oil and gas company’s stock worth $9,004,000 after buying an additional 12,257 shares in the last quarter. 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.