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

Key Points

• Forum Energy Technologies (NYSE:FET) recently saw its stock price exceed the 200-day moving average, with the stock last trading at $25.81, up from a moving average of $19.78.
• Despite the price movement, analysts continue to issue negative ratings with Weiss Ratings and Zacks Research both recommending a "Sell" on the stock.
• The company reported earnings of ($0.10) per share, missing analysts' expectations, but had revenue of $199.80 million, exceeding estimates.

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.78 and traded as high as $26.11. Forum Energy Technologies shares last traded at $25.81, with a volume of 73,855 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Forum Energy Technologies in a research note on Saturday, September 27th. Zacks Research cut Forum Energy Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Sell".

Forum Energy Technologies Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.41 and a quick ratio of 1.13. The stock has a 50 day moving average price of $24.50 and a two-hundred day moving average price of $19.78. The firm has a market capitalization of $307.09 million, a price-to-earnings ratio of -2.90, a PEG ratio of 6.27 and a beta of 0.89.

Forum Energy Technologies (NYSE:FET - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The oil and gas company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.25). Forum Energy Technologies had a negative net margin of 13.65% and a negative return on equity of 2.51%. The firm had revenue of $199.80 million during the quarter, compared to analyst estimates of $190.50 million.

Institutional Investors Weigh In On Forum Energy Technologies

A number of institutional investors have recently modified their holdings of FET. Headlands Technologies LLC boosted its holdings in Forum Energy Technologies by 196.6% in the first 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. Tower Research Capital LLC TRC boosted 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 purchasing an additional 1,771 shares during the period. GAMMA Investing LLC boosted its holdings in Forum Energy Technologies by 1,911.1% in the first quarter. GAMMA Investing LLC now owns 2,172 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 2,064 shares during the period. Osaic Holdings Inc. purchased a new position in Forum Energy Technologies in the second quarter valued at $78,000. Finally, Raymond James Financial Inc. purchased a new position in Forum Energy Technologies in the second quarter valued at $188,000. 65.60% of the stock is owned by institutional investors and hedge funds.

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.

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