Saturday, November 28, 2020

Forum Energy Technologies Inc. [FET] moved up 9.52: Why It’s Important

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Forum Energy Technologies Inc. [NYSE: FET] traded at a high on 06/12/20, posting a 9.52 gain after which it closed the day’ session at $0.62. The results of the trading session contributed to over 4273419 shares changing hands. Over the past one week, the price volatility of Forum Energy Technologies Inc. stands at 33.66% while the volatility over the past one month is 18.24%.

The market cap for FET stock reached $62.76 million, with 111.17 million shares outstanding and 74.72 million shares in the current float. Compared to the average trading volume of 6.52M shares, FET reached a trading volume of 4273419 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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What do top market gurus say about Forum Energy Technologies Inc. [FET]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FET shares is $1.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FET stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Forum Energy Technologies Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 16, 2020. The new note on the price target was released on March 11, 2020, representing the official price target for Forum Energy Technologies Inc. stock. Previously, the target price had yet another drop from $2.70 to $0.20, while B. Riley FBR kept a Sell rating on FET stock.

The Average True Range (ATR) for Forum Energy Technologies Inc. is set at 0.12, with the Price to Sales ratio for FET stock in the period of the last 12 months amounting to 0.07. The Price to Book ratio for the last quarter was 0.16, with the Price to Cash per share for the same quarter was set at 1.07. Price to Free Cash Flow for FET in the course of the last twelve months was 0.83 with Quick ratio for the last quarter at 1.60.

How has FET stock performed recently?

Forum Energy Technologies Inc. [FET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.77. With this latest performance, FET shares gained by 52.76% in over the last four-week period, additionally sinking by -59.63% over the last 6 months – not to mention a drop of -82.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FET stock in for the last two-week period is set at 58.67, with the RSI for the last a single of trading hit 57.23, and the three-weeks RSI is set at 57.07 for Forum Energy Technologies Inc. [FET]. The present Moving Average for the last 50 days of trading for this stock 0.3575, while it was recorded at 0.7270 for the last single week of trading, and 1.0053 for the last 200 days.

Forum Energy Technologies Inc. [FET]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Forum Energy Technologies Inc. [FET] shares currently have an operating margin of -0.72 and a Gross Margin at +25.60. Forum Energy Technologies Inc.’s Net Margin is presently recorded at -59.28.

Return on Total Capital for FET is now -0.55, given the latest momentum, and Return on Invested Capital for the company is -45.68. Return on Equity for this stock declined to -74.80, with Return on Assets sitting at -37.93. When it comes to the capital structure of this company, Forum Energy Technologies Inc. [FET] has a Total Debt to Total Equity ratio set at 95.07. Additionally, FET Total Debt to Total Capital is recorded at 48.74, with Total Debt to Total Assets ending up at 39.83. Long-Term Debt to Equity for the company is recorded at 92.34, with the Long-Term Debt to Total Capital now at 47.34.

Reflecting on the efficiency of the workforce at the company, Forum Energy Technologies Inc. [FET] managed to generate an average of -$246,547 per employee. Receivables Turnover for the company is 5.09 with a Total Asset Turnover recorded at a value of 0.64.Forum Energy Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 3.80.

Earnings analysis for Forum Energy Technologies Inc. [FET]

With the latest financial reports released by the company, Forum Energy Technologies Inc. posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -60.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FET.

Insider trade positions for Forum Energy Technologies Inc. [FET]

There are presently around $44 million, or 64.80% of FET stock, in the hands of institutional investors. The top three institutional holders of FET stocks are: SCF PARTNERS, INC. with ownership of 17,780,755, which is approximately 0% of the company’s market cap and around 5.00% of the total institutional ownership; BLACKROCK INC., holding 8,277,292 shares of the stock with an approximate value of $5.12 million in FET stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $3.31 million in FET stock with ownership of nearly -5.375% of the company’s market capitalization.

Positions in Forum Energy Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 34 institutional holders increased their position in Forum Energy Technologies Inc. [NYSE:FET] by around 4,334,699 shares. Additionally, 65 investors decreased positions by around 15,232,044 shares, while 19 investors held positions by with 51,374,064 shares. The mentioned changes placed institutional holdings at 70,940,807 shares, according to the latest SEC report filing. FET stock had 9 new institutional investments in for a total of 1,302,955 shares, while 30 institutional investors sold positions of 9,199,813 shares during the same period.

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