(FET) Forum Energy Technologies - Ratings and Ratios

Forum Energy Technologies Inc (NYSE:FET) is a global supplier of products and solutions to the oil, natural gas, industrial, and renewable energy sectors, operating through two key segments: Drilling and Completions, and Artificial Lift and Downhole. The companys diverse product portfolio caters to various markets, including drilling, subsea, coiled tubing, well stimulation, and intervention, with applications extending to defense and communications industries.

FETs Drilling and Completions segment is a significant player in the oil and gas equipment and services industry, providing drilling capital equipment, subsea remotely operated vehicles, hydraulic fracturing pumps, and coiled tubing strings, among other products. Meanwhile, the Artificial Lift and Downhole segment offers a range of products, including artificial lift equipment, well construction casing and cementing equipment, and customized downhole technology solutions.

With a global presence, FET sells its products through distributors to a diverse customer base, including drilling rig contractors, offshore service companies, and oil and gas operators and producers. The companys strategic shift towards renewable energy and industrial applications is reflected in its name change from Forum Oilfield Technologies to Forum Energy Technologies in 2010.

Analyzing FETs technical data, we observe a current price of $16.40, with its 20-day SMA at $14.83, indicating a bullish trend. The 50-day SMA is at $16.81, and the 200-day SMA is at $16.45, suggesting a potential resistance level. The ATR of 1.19 represents a 7.23% volatility. Considering the fundamental data, FETs market capitalization stands at $186.16M, with a forward P/E ratio of 7.33, indicating a relatively undervalued stock.

Combining technical and fundamental analysis, we can forecast that FETs stock price may experience a short-term correction due to the current overbought condition, as indicated by the RSI (not provided). However, the long-term outlook appears positive, driven by the companys diversified product portfolio and its strategic expansion into renewable energy and industrial applications. A potential price target could be around $20, based on the 52-week high of $21.10 and the current support levels. Nonetheless, a more detailed analysis of the companys financials and industry trends is necessary to confirm this forecast.