Stock Rating Downgrade
The Value Trend Rating for Forum Energy Technologies Inc (NYSE: FET) weakened recently from C to D reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Forum Energy Technologies Inc (NYSE: FET) stock closed at $16.61 on 9/20/24 after a modest gain of 1.0%. Moreover, trading volume in this advance was unusually high at 168% of normal. Relative to the market the stock has been weak over the last nine months but has risen 8.8% during the last week.
Current PriceTarget Research Rating
FET is expected to be a modest Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Forum Energy Technologies has a current Value Trend Rating of D (Negative). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Forum Energy Technologies has a good Appreciation Score of 72 but a very low Power Rating of 13, resulting in the Negative Value Trend Rating.
Be the first to comment