Forum Energy Technologies, Inc. (NYSE:FET) is one of the best oversold growth stocks to invest in now. In its financial results for fiscal Q1 2026 announced on April 30, Forum Energy Technologies, Inc. (NYSE:FET) reported revenue of $209 million and net income of $4 million or $0.39 per diluted share. Management stated that adjusting for restructuring costs, net income was $6 million or approximately $0.47 per diluted share, while orders reached $221 million with a book-to-bill ratio of 106%. Adjusted EBITDA for the quarter was $23 million, with the company reporting that revenue and adjusted EBITDA rose 8% and 14% year-over-year. It received solid orders for its differentiated products, raising its backlog 44% compared to the first quarter of 2025.
Forum Energy Technologies, Inc. (NYSE:FET) also reported that while the conflict in the Middle East has resulted in considerable hardships for the region, the company has experienced minimal impact on its financial results and anticipates increased commodity prices and elevated upstream spending in the longer term to drive demand for its products and technology.
Forum Energy Technologies, Inc. (NYSE:FET) is involved in the design, manufacturing, and distribution of products to the oil and natural gas industry. The company’s operations are divided into the following segments: Drilling and Completions and Artificial Lift and Downhole.
While we acknowledge the potential of FET as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.
Disclosure: None. Follow Insider Monkey on Google News.