Stock Rating Upgrade
The Value Trend Rating for Forum Energy Technologies Inc (NYSE: FET) improved in recent days from D to C reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
On 9/27/24, Forum Energy Technologies Inc (NYSE: FET) stock declined slightly by -0.3%, closing at $15.94. However, this decline was accompanied by exceptionally low trading volume at 33% of normal. Relative to the market the stock has been weak over the last nine months and has declined -3.1% 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 C (Low Neutral). This VT Rating improved in recent days from D previously. 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 74 but a very low Power Rating of 13, with the Low Neutral Value Trend Rating the result.
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