Forum Energy Technologies (NYSE:FET) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.38 and traded as high as $20.69. Forum Energy Technologies shares last traded at $19.95, with a volume of 90,759 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised Forum Energy Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.

Forum Energy Technologies Trading Down 0.2%

The business has a 50-day moving average price of $17.71 and a two-hundred day moving average price of $17.47. The company has a current ratio of 2.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $242.82 million, a P/E ratio of -1.96, a P/E/G ratio of 2.19 and a beta of 0.84.

Forum Energy Technologies (NYSE:FET - Get Free Report) last posted its earnings results on Thursday, May 1st. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.39). The company had revenue of $193.30 million for the quarter, compared to the consensus estimate of $196.45 million. Forum Energy Technologies had a negative return on equity of 2.26% and a negative net margin of 15.35%. During the same period in the previous year, the firm posted ($0.12) EPS.

Hedge Funds Weigh In On Forum Energy Technologies

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC increased its position in Forum Energy Technologies by 196.6% during the 1st quarter. Headlands Technologies LLC now owns 1,237 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 820 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Forum Energy Technologies by 63.7% in the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 859 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Forum Energy Technologies by 8.8% in the 1st quarter. Empowered Funds LLC now owns 13,908 shares of the oil and gas company's stock valued at $280,000 after purchasing an additional 1,127 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Forum Energy Technologies by 126.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company's stock worth $37,000 after buying an additional 1,319 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Forum Energy Technologies by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,342 shares of the oil and gas company's stock worth $671,000 after buying an additional 1,480 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors.

Forum Energy Technologies Company Profile

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.