Forum Energy Technologies (NYSE:FET) Earns Buy Rating from Analysts at started coverage on shares of Forum Energy Technologies (NYSE:FETGet Rating) in a research note released on Thursday morning. The brokerage issued a buy rating on the oil and gas company’s stock.

Forum Energy Technologies Stock Performance

NYSE FET opened at $23.05 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 2.44. Forum Energy Technologies has a 12 month low of $16.78 and a 12 month high of $33.84. The company’s 50 day moving average is $30.44 and its two-hundred day moving average is $28.00.

Forum Energy Technologies (NYSE:FETGet Rating) last announced its quarterly earnings results on Monday, February 20th. The oil and gas company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.08). Forum Energy Technologies had a net margin of 0.54% and a negative return on equity of 6.36%. The firm had revenue of $190.70 million for the quarter.

Insider Activity at Forum Energy Technologies

In other news, Director Michael Mcshane bought 2,500 shares of Forum Energy Technologies stock in a transaction that occurred on Monday, December 19th. The stock was bought at an average price of $29.83 per share, for a total transaction of $74,575.00. Following the purchase, the director now directly owns 8,436 shares of the company’s stock, valued at approximately $251,645.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.00% of the stock is currently owned by insiders.

Institutional Trading of Forum Energy Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Virginia Wealth Management Group Inc. purchased a new position in shares of Forum Energy Technologies during the second quarter worth $28,000. Dorsey Wright & Associates acquired a new position in shares of Forum Energy Technologies in the 4th quarter valued at about $34,000. Northern Trust Corp purchased a new stake in shares of Forum Energy Technologies in the first quarter worth about $204,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Forum Energy Technologies during the fourth quarter worth about $264,000. Finally, Citadel Advisors LLC purchased a new position in Forum Energy Technologies during the second quarter valued at approximately $281,000. 37.41% of the stock is currently owned by institutional investors and hedge funds.

About Forum Energy Technologies

(Get Rating)

Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry. The firm 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, downhole, and subsea markets, as well as other markets, such as alternative energy, defense, and communications.

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