Forum Energy Technologies Inc. (FET) Analysis & Forecast for July 2020

Forum Energy Technologies Inc. (NYSE: FET) is -71.34% lower on its value in year-to-date trading and has touched a low of $0.15 and a high of $2.74 in the current 52-week trading range. The FET stock was last observed hovering at around $0.51 in the last trading session, with the day’s loss setting it -0.03% off its average median price target of $0.45 for the next 12 months. It is also 52.0% off the consensus price target high of $1.00 offered by 4 analysts, but current levels are -92.0% lower than the price target low of $0.25 for the same period.

Currently trading at $0.48, the stock is 8.20% and 1.78% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.41 million and changing -5.59% at the moment leaves the stock -42.78% off its SMA200. FET registered -79.77% loss for a year compared to 6-month loss of -58.13%. The firm has a 50-day simple moving average (SMA 50) of $0.5344 and a 200-day simple moving average (SMA200) of $0.5906.

The stock witnessed a -15.45% gain in the last 1 month and extending the period to 3 months gives it a 46.66%, and is 1.67% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.13% over the week and 15.70% over the month.

Forum Energy Technologies Inc. (FET) has around 2300 employees, a market worth around $51.64M and $867.30M in sales. Profit margin for the company is -68.80%. Distance from 52-week low is 220.79% and -82.46% from its 52-week high. The company has generated returns on investments over the last 12 months (-59.90%).

Forum Energy Technologies Inc. (FET) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Forum Energy Technologies Inc. (FET) is a “Underweight”. 4 analysts offering their recommendations for the stock have an average rating of 3.30, where 2 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Forum Energy Technologies Inc. is expected to release its quarterly report on 07/27/2020 and quarterly earnings per share for the current quarter are estimated at -$0.3 with sales reaching $110M over the same period.The EPS is expected to shrink by -43.80% this year, but quarterly earnings will post -50.20% year-over-year.

Forum Energy Technologies Inc. (FET) Top Institutional Holders

146 institutions hold shares in Forum Energy Technologies Inc. (FET), with 15.13M shares held by insiders accounting for 13.61% while institutional investors hold 85.22% of the company’s shares. The shares outstanding are 111.17M, and float is at 74.72M with Short Float at 4.12%. Institutions hold 73.62% of the Float.

The top institutional shareholder in the company is SCF Partners, Inc. with over 17.78 million shares valued at $3.15 million. The investor’s holdings represent 15.97% of the FET Shares outstanding. As of Mar 30, 2020, the second largest holder is Blackrock Inc. with 8.28 million shares valued at $1.47 million to account for 7.43% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 5.35 million shares representing 4.80% and valued at over $0.95 million, while Wells Fargo & Company holds 4.33% of the shares totaling 4.83 million with a market value of $0.86 million.

Forum Energy Technologies Inc. (FET) Insider Activity

A total of 29 insider transactions have happened at Forum Energy Technologies Inc. (FET) in the last six months, with sales accounting for 21 and purchases happening 8 times. The most recent transaction is an insider purchase by WAITE ANDREW L, the company’s Director. SEC filings show that WAITE ANDREW L bought 585,938 shares of the company’s common stock on Nov 25 at a price of $1.28 per share for a total of $0.75 million. Following the purchase, the insider now owns 0.66 million shares.

Forum Energy Technologies Inc. disclosed in a document filed with the SEC on Nov 25 that Baldwin David C (Director) bought a total of 585,938 shares of the company’s common stock. The trade occurred on Nov 25 and was made at $1.28 per share for $0.75 million. Following the transaction, the insider now directly holds 0.66 million shares of the FET stock.

Still, SEC filings show that on Nov 25, Angelle Evelyn M (Director) acquired 78,125 shares at an average price of $1.28 for $100000.0. The insider now directly holds 195,679 shares of Forum Energy Technologies Inc. (FET).

Forum Energy Technologies Inc. (FET): Who are the competitors?

The company’s main competitors (and peers) include Schlumberger Limited (SLB) that is trading -50.81% down over the past 12 months. Dril-Quip Inc. (DRQ) is -32.72% down on the 1-year trading charts. Short interest in the company’s stock has fallen -59.93% from the last report on May 28, 2020 to stand at a total of 4.83 million short shares sold with a short interest ratio of 0.47.