Forum Energy Technologies (NYSE:FET) Stock Price Passes Above 200 Day Moving Average - What's Next?

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) passed 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 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 Up 0.5%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 2.46. The business has a fifty day simple moving average of $15.68 and a 200 day simple moving average of $16.81. The stock has a market capitalization of $249.45 million, a price-to-earnings ratio of -2.01, a price-to-earnings-growth ratio of 2.30 and a beta of 0.80.

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

Institutional Trading of Forum Energy Technologies

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in shares of Forum Energy Technologies by 63.7% during 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 acquiring an additional 859 shares during the period. Two Sigma Investments LP lifted its position in shares of Forum Energy Technologies by 146.0% during the 4th quarter. Two Sigma Investments LP now owns 37,493 shares of the oil and gas company's stock valued at $581,000 after acquiring an additional 22,249 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Forum Energy Technologies during the 4th quarter valued at $269,000. American Century Companies Inc. lifted 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 valued at $1,114,000 after acquiring an additional 20,925 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Forum Energy Technologies by 57.3% during the 4th quarter. Bank of America Corp DE now owns 103,605 shares of the oil and gas company's stock valued at $1,605,000 after acquiring an additional 37,744 shares during the period. 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.