Forum Energy Technologies (NYSE:FET) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Forum Energy Technologies (NYSE:FET) from a buy rating to a hold rating in a research report report published on Monday.

Separately, TheStreet lowered Forum Energy Technologies from a c rating to a d rating in a research report on Thursday, February 29th.

Forum Energy Technologies Trading Up 1.8 %

NYSE FET opened at $18.85 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.13 and a current ratio of 2.59. Forum Energy Technologies has a 1 year low of $17.65 and a 1 year high of $28.73. The stock’s 50-day moving average price is $19.22 and its two-hundred day moving average price is $20.60.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, February 29th. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter. Forum Energy Technologies had a negative net margin of 3.42% and a negative return on equity of 0.96%. The firm had revenue of $185.20 million for the quarter. As a group, equities research analysts expect that Forum Energy Technologies will post 0.13 EPS for the current year.

Insider Activity at Forum Energy Technologies

In other Forum Energy Technologies news, EVP John C. Ivascu sold 2,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $19.25, for a total transaction of $38,500.00. Following the transaction, the executive vice president now directly owns 51,543 shares of the company’s stock, valued at $992,202.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Forum Energy Technologies during the third quarter valued at about $114,000. Barclays PLC increased its position in Forum Energy Technologies by 91.8% in the 3rd quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock worth $168,000 after buying an additional 3,344 shares during the period. Empowered Funds LLC acquired a new position in shares of Forum Energy Technologies during the first quarter worth approximately $221,000. Pickering Energy Partners LP bought a new stake in shares of Forum Energy Technologies in the fourth quarter valued at approximately $279,000. Finally, Panagora Asset Management Inc. grew its stake in shares of Forum Energy Technologies by 25.5% in the third quarter. Panagora Asset Management Inc. now owns 15,609 shares of the oil and gas company’s stock worth $375,000 after acquiring an additional 3,176 shares during the last quarter. 65.60% of the stock is currently 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.