Forum Energy Technologies Inc (NYSE:FET)
December 6th, 2018
Forum Energy Technologies Inc fell $0.46 Thursday, a 7.44% drop, closing at $5.72. As well as the drop in value, Forum Energy Technologies Inc hit a new 52 week low of $5.64, breaking the previous low of $6.13 from earlier this month. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 1.19.
FET was outperformed by the rest of the Energy sector which went down just 1.77%.
Results from 14 analysts points to the possibility that Forum Energy Technologies Inc could rise significantly (79%), while Finbox has calculated (with very high uncertainty) a fair value price of $8.01.
The market sectors were mixed Thursday with a majority of the sectors trending down. Real Estate saw the biggest increase of the day (2.66%), while Energy saw the biggest drop (1.77%). Healthcare has seen the biggest year-to-date gain at 12%. The biggest loss this year has been the Materials sector falling 12%.
Communication Services saw the biggest turnaround from its 5-day performance of -1.28%, as it went up 1.04%. Utilities saw a turn around from its 5-day performance of 2.33% trading down 0.10%.
- Real Estate went up with a 2.66% change.
- Communication Services went up with a 1.04% change.
- Consumer Discretionary went up with a 0.61% change.
- Information Technology went up with a 0.23% change.
- Utilities went down with a -0.10% change.
- Consumer Staples went down with a -0.10% change.
- Healthcare went down with a -0.31% change.
- Industrials went down with a -0.55% change.
- Materials went down with a -1.36% change.
- Financials went down with a -1.44% change.
- Energy went down with a -1.77% change.
Forum Energy Technologies is based in Houston. Forum Energy Technologies was founded in 2010.
Forum Energy Technologies Inc Info
Forum Energy Technologies, Inc. designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications. This segment offers drilling technologies consisting of capital equipment and a line of products consumed in the drilling; and subsea technologies, including robotic vehicles and other capital equipment, specialty components and tools, complementary subsea technical services and rental items, and products used in pipeline infrastructure. The Completions segment provides products and related services to the well construction, completion, stimulation, and intervention markets. This segment offers downhole technologies comprising cementing and casing tools, completion products, and a range of downhole cable protection solutions; and stimulation and intervention technologies, including pumps and well stimulation consumable products, and related recertification and refurbishment services. The Production & Infrastructure segment designs, manufactures, and supplies products, and provides related equipment and services to the production and infrastructure markets. This segment supplies production equipment, including well site production and process equipment; and a range of industrial and process valves. The company was formerly known as Forum Oilfield Technologies, Inc. and changed its name to Forum Energy Technologies, Inc. in August 2010. Forum Energy Technologies, Inc. was incorporated in 2005 and is headquartered in Houston, Texas.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Forum Energy Technologies Inc’s score is 1.19) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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