Thursday marked the first day that research analysts at StockNews.com began covering Forum Energy Technologies by publishing a research note on the company.
The company has given the stock of the oil and gas company a “buy” recommendation as the corporation’s official stance on the matter.
When the stock market opened for business on Thursday morning, the share price of Forum Energy Technologies was $26.00.
The company’s current market capitalization value is $267.80 million, its price-to-earnings ratio is -29.88, and its beta value is 2.84. 1.16 is the value shared by all three ratios: the debt-to-equity ratio, the current ratio, and the quick ratio.
The current and quick ratios are currently at 2.44, while the quick ratio sits at 1.16.
The low point for Forum Energy Technologies over the past year was 16.78 dollars, while the company’s high point over the past year was 33.84.
The stock’s simple moving average over the past 50 days is $30.65, and its simple moving average over the past 200 days is $28.09.
The quarterly earnings report for Forum Energy Technologies (NYSE: FET) was distributed to the investing community on Monday, February 20.
The oil and gas company reported earnings per share (EPS) of $0.45 for the quarter, which was $0.08 less than the industry’s analysts had anticipated, $0.37.
The sum of $190.70 million represents the company’s total revenue during the relevant period. Forum Energy Technologies had a negative return on equity of 6.36 percent, and the company had a net margin of 0.54 percent.
In related news relating to this topic, Director Michael McShane purchased 2,500 Forum Energy Technologies stock on Monday, December 19.
This information is relevant because it was recently brought to our attention.
The total cost of purchasing the stock was $74,575.00, which works out to an average price of $29.83 per share when divided among all the shares purchased.
The director now has a total of 8,436 shares in the company as a result of the purchase, and these shares are currently worth $251,645.88.
The acquisition was reported in a document issued by the SEC, which is currently available on the website of the SEC.
There are 11,000 shares in the company that is owned directly by employees and other company insiders.
Institutional investors and hedge funds have recently adjusted the percentage of FET stock held in their portfolios to reflect recent market shifts.
During the second quarter, approximately $28,000 worth of capital came from Virginia Investment Management Group INC in the form of an investment that was made to acquire additional shares of Forum Energy Technologies.
During the final three months of 2018, Dorsey Wright & Associates increased its holdings in Forum Energy Technologies by purchasing additional shares.
It was estimated that this new holding was worth approximately $34,000.
The Northern Trust Corporation increased its stake in Forum Energy Technologies by approximately 204 thousand dollars during the year’s first quarter.
During the final three months of 2018, Connor Clark & Lunn Investment Management Ltd acquired an additional holding in Forum Energy Technologies that was approximately 264,000 dollars in value.
And finally, during the second quarter, Citadel Advisors LLC started a brand new investment in Forum Energy Technologies with an overall value of 280 thousand dollars.
At this time, hedge funds and various other types of institutional investors collectively own 37.41% of the company’s common stock.
Products that serve the oil and gas industries are developed and produced by Forum Energy Technologies, INC, which then sells those products. Forum Energy Technologies, INC provides its services to a variety of industries.
Drilling and downhole services, completions, and production are the three distinct divisions that make up the company.
In addition to catering to the drilling, downhole, and subsea markets, the Drilling and Downhole segment also serves other markets and industries, including the alternative energy, defense, and communications sectors.
This segment is responsible for creating, producing, and promoting various products and services.