Forum Energy Technologies (NYSE:FET) Coverage Initiated by Analysts at StockNews.com – MarketBeat
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Stock analysts at StockNews.com began coverage on shares of Forum Energy Technologies (NYSE:FET – Get Rating) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the oil and gas company’s stock.
Forum Energy Technologies Stock Down 3.7 %
FET stock opened at $22.91 on Wednesday. Forum Energy Technologies has a one year low of $14.71 and a one year high of $30.99. The company has a 50 day moving average price of $24.60 and a two-hundred day moving average price of $22.57. The stock has a market capitalization of $131.07 million, a P/E ratio of -3.83 and a beta of 2.94. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.16 and a current ratio of 2.63.
Forum Energy Technologies (NYSE:FET – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The oil and gas company reported ($0.73) earnings per share (EPS) for the quarter. Forum Energy Technologies had a negative net margin of 5.04% and a negative return on equity of 12.63%. The company had revenue of $172.20 million for the quarter.
Institutional Trading of Forum Energy Technologies
Several institutional investors have recently made changes to their positions in the stock. SailingStone Capital Partners LLC purchased a new stake in shares of Forum Energy Technologies during the 2nd quarter valued at $981,000. Citadel Advisors LLC acquired a new position in shares of Forum Energy Technologies during the 2nd quarter valued at $281,000. Virginia Wealth Management Group Inc. acquired a new position in shares of Forum Energy Technologies during the 2nd quarter valued at $28,000. Dorsey Wright & Associates acquired a new position in shares of Forum Energy Technologies during the 2nd quarter valued at $37,000. Finally, State Street Corp lifted its holdings in shares of Forum Energy Technologies by 6.8% during the 1st quarter. State Street Corp now owns 15,996 shares of the oil and gas company’s stock valued at $366,000 after acquiring an additional 1,022 shares in the last quarter. 46.51% of the stock is owned by hedge funds and other institutional investors.
About Forum Energy Technologies
(Get Rating)
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 markets, including applications in oil and natural gas, renewable energy, defense, and communications.
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