Forum Energy Technologies, Inc. (NYSE:FET – Get Free Report)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.36 and traded as high as $17.93. Forum Energy Technologies shares last traded at $17.80, with a volume of 78,439 shares changing hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th.
Forum Energy Technologies Stock Up 1.3 %
Forum Energy Technologies (NYSE:FET – Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.58). The company had revenue of $201.00 million for the quarter, compared to analyst estimates of $201.85 million. Forum Energy Technologies had a negative return on equity of 2.39% and a negative net margin of 16.57%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Crossingbridge Advisors LLC acquired a new stake in shares of Forum Energy Technologies during the 3rd quarter worth about $3,721,000. Icon Wealth Advisors LLC boosted its position in Forum Energy Technologies by 44.4% during the third quarter. Icon Wealth Advisors LLC now owns 91,758 shares of the oil and gas company’s stock worth $1,419,000 after acquiring an additional 28,225 shares during the last quarter. SCF Partners Inc. purchased a new stake in Forum Energy Technologies in the 3rd quarter worth approximately $12,843,000. State Street Corp raised its holdings in Forum Energy Technologies by 6.9% in the 3rd quarter. State Street Corp now owns 198,479 shares of the oil and gas company’s stock valued at $3,068,000 after acquiring an additional 12,785 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Forum Energy Technologies by 86.0% during the 3rd quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 12,810 shares during the period. Institutional investors and hedge funds own 65.60% of the company’s stock.
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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