Forum Energy Technologies (NYSE:FET) Stock Rating Upgraded by StockNews.com – MarketBeat
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Forum Energy Technologies (NYSE:FET – Get Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.
Forum Energy Technologies Trading Up 3.5 %
FET stock traded up $1.00 during trading on Friday, reaching $29.85. 11,932 shares of the stock traded hands, compared to its average volume of 32,333. The firm has a market capitalization of $170.77 million, a PE ratio of -14.15 and a beta of 2.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.63 and a quick ratio of 1.16. The business’s 50 day moving average price is $24.48 and its 200-day moving average price is $23.03. Forum Energy Technologies has a 52-week low of $14.71 and a 52-week high of $30.99.
Institutional Trading of Forum Energy Technologies
A number of institutional investors and hedge funds have recently bought and sold shares of the business. SCF Partners Inc. purchased a new stake in Forum Energy Technologies during the first quarter worth approximately $15,269,000. Bank of New York Mellon Corp boosted its position in Forum Energy Technologies by 25.3% during the 1st quarter. Bank of New York Mellon Corp now owns 22,173 shares of the oil and gas company’s stock worth $507,000 after purchasing an additional 4,480 shares during the period. Acadian Asset Management LLC increased its holdings in Forum Energy Technologies by 2.0% in the 1st quarter. Acadian Asset Management LLC now owns 64,082 shares of the oil and gas company’s stock valued at $1,466,000 after purchasing an additional 1,270 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Forum Energy Technologies by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 150,797 shares of the oil and gas company’s stock valued at $3,453,000 after purchasing an additional 9,076 shares during the period. Finally, Northern Trust Corp acquired a new position in shares of Forum Energy Technologies during the first quarter worth about $204,000. Institutional investors and hedge funds own 46.51% of the company’s stock.
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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