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Forum Energy Technologies (FET): Heavy Pre-Market Activity

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Forum Energy Technologies ( FET) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Forum Energy Technologies as such a stock due to the following factors:

  • FET has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $17.9 million.
  • FET traded 87,306 shares today in the pre-market hours as of 7:45 AM, representing 14.4% of its average daily volume.

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More details on FET:

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 two segments, Drilling & Subsea, and Production & Infrastructure. FET has a PE ratio of 20.6. Currently there are 9 analysts that rate Forum Energy Technologies a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Forum Energy Technologies has been 366,000 shares per day over the past 30 days. Forum Energy has a market cap of $3.0 billion and is part of the basic materials sector and energy industry. Shares are up 13.2% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Forum Energy Technologies as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, increase in stock price during the past year and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Highlights from the ratings report include:

  • Despite its growing revenue, the company underperformed as compared with the industry average of 9.2%. Since the same quarter one year prior, revenues slightly increased by 8.3%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The current debt-to-equity ratio, 0.35, is low and is below the industry average, implying that there has been successful management of debt levels.
  • Net operating cash flow has significantly increased by 120.74% to $62.90 million when compared to the same quarter last year. In addition, FORUM ENERGY TECH INC has also vastly surpassed the industry average cash flow growth rate of 49.45%.
  • The stock has risen over the past year as investors have generally rewarded the company for its earnings growth and other positive factors like the ones we have cited in this report. The stock's price rise over the last year has driven it to a level which is somewhat expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
  • FORUM ENERGY TECH INC has improved earnings per share by 11.8% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, FORUM ENERGY TECH INC reported lower earnings of $1.37 versus $1.72 in the prior year. This year, the market expects an improvement in earnings ($1.76 versus $1.37).

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