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

Key Points

• Technical breakout: Forum Energy Technologies shares crossed above their 200‑day moving average ($40.87), trading as high as $61.32 and last at $59.86 on volume of 183,620 shares.
• Analyst views are mixed—Wall Street Zen upgraded to a strong‑buy while Weiss Ratings remains a sell and Zacks cut to hold—leaving a MarketBeat consensus rating of Reduce.
• Fundamentals show a beat on the latest quarter ($0.41 EPS on $202.2M revenue), but the company still reports a negative net margin and a negative P/E (‑67.26) with a market cap around $678M.

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $40.87 and traded as high as $61.32. Forum Energy Technologies shares last traded at $59.8590, with a volume of 183,620 shares traded.

Analyst Ratings Changes

FET has been the subject of several analyst reports. Wall Street Zen upgraded shares of Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Forum Energy Technologies in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Forum Energy Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce".

Forum Energy Technologies Stock Up 0.1%

The firm has a market capitalization of $678.14 million, a PE ratio of -67.26, a P/E/G ratio of 3.70 and a beta of 0.58. The firm's 50 day moving average price is $55.48 and its two-hundred day moving average price is $40.87. The company has a quick ratio of 1.01, a current ratio of 2.17 and a debt-to-equity ratio of 0.46.

Forum Energy Technologies (NYSE:FET - Get Free Report) last announced its earnings results on Thursday, February 19th. The oil and gas company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.05. The business had revenue of $202.20 million during the quarter, compared to the consensus estimate of $190.50 million. Forum Energy Technologies had a negative net margin of 1.22% and a positive return on equity of 2.40%.

Insider Transactions at Forum Energy Technologies

In related news, EVP John C. Ivascu sold 4,392 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $60.01, for a total value of $263,563.92. Following the sale, the executive vice president directly owned 81,599 shares of the company's stock, valued at $4,896,755.99. This represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of Forum Energy Technologies

Institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System acquired a new stake in Forum Energy Technologies in the third quarter valued at $27,000. Meeder Asset Management Inc. acquired a new stake in Forum Energy Technologies in the fourth quarter valued at $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Forum Energy Technologies in the fourth quarter valued at $37,000. Tower Research Capital LLC TRC raised its holdings in Forum Energy Technologies by 558.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company's stock valued at $41,000 after acquiring an additional 1,771 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Forum Energy Technologies by 166.7% in the third quarter. Federated Hermes Inc. now owns 1,616 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 1,010 shares in the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.

About Forum Energy Technologies

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company's offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.

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