Forum Energy Technologies (NYSE:FET) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.73 and traded as high as $19.81. Forum Energy Technologies shares last traded at $19.70, with a volume of 85,887 shares traded.

Analyst Upgrades and Downgrades

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 Stock Down 3.4%

The firm has a 50-day moving average of $15.68 and a two-hundred day moving average of $16.81. The company has a market capitalization of $241.90 million, a PE ratio of -1.95, a price-to-earnings-growth ratio of 2.30 and a beta of 0.80. The company has a quick ratio of 1.10, a current ratio of 2.46 and a debt-to-equity ratio of 0.53.

Forum Energy Technologies (NYSE:FET - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations 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 business posted ($0.12) EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Monaco Asset Management SAM increased its stake in shares of Forum Energy Technologies by 9.8% during the fourth quarter. Monaco Asset Management SAM now owns 75,118 shares of the oil and gas company's stock worth $1,164,000 after buying an additional 6,709 shares during the period. Tejara Capital Ltd increased its holdings in shares of Forum Energy Technologies by 5.4% in the 4th quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company's stock valued at $3,571,000 after acquiring an additional 11,736 shares during the last quarter. American Century Companies Inc. raised its position in shares of Forum Energy Technologies by 41.0% during the 4th quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company's stock worth $1,114,000 after acquiring an additional 20,925 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Forum Energy Technologies by 445.0% during the 4th quarter. JPMorgan Chase & Co. now owns 48,209 shares of the oil and gas company's stock worth $747,000 after acquiring an additional 39,364 shares in the last quarter. Finally, Diametric Capital LP acquired a new position in shares of Forum Energy Technologies during the 4th quarter worth $350,000. Hedge funds and other institutional investors own 65.60% of the company's stock.

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.