Forum Energy Technologies Inc. (NYSE:FET) fell 7.9% on Tuesday . The stock traded as low as $16.09 and last traded at $16.19, with a volume of 306,841 shares trading hands. The stock had previously closed at $17.57.

Several research firms recently commented on FET. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Forum Energy Technologies in a research note on Monday, June 13th. Scotiabank reaffirmed a “sector perform” rating and set a $19.00 target price (up previously from $16.00) on shares of Forum Energy Technologies in a research note on Friday, June 17th. Howard Weil raised their target price on Forum Energy Technologies from $16.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 16th. Morgan Stanley reaffirmed a “hold” rating on shares of Forum Energy Technologies in a research note on Monday, May 2nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Forum Energy Technologies in a research note on Sunday, May 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.38.

The firm’s market cap is $1.49 billion. The company has a 50 day moving average price of $17.16 and a 200 day moving average price of $13.66.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Friday, April 29th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.02. The company earned $159 million during the quarter, compared to the consensus estimate of $166.55 million. Equities research analysts anticipate that Forum Energy Technologies Inc. will post ($0.90) EPS for the current fiscal year.

Other hedge funds and institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in Forum Energy Technologies by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 109,924 shares of the company’s stock worth $1,370,000 after buying an additional 1,989 shares during the period. New York State Common Retirement Fund increased its position in Forum Energy Technologies by 93.9% in the fourth quarter. New York State Common Retirement Fund now owns 110,333 shares of the company’s stock worth $1,375,000 after buying an additional 53,433 shares during the period. Royce & Associates LLC increased its position in Forum Energy Technologies by 184.6% in the fourth quarter. Royce & Associates LLC now owns 204,919 shares of the company’s stock worth $2,553,000 after buying an additional 132,919 shares during the period. UBS Oconnor LLC increased its position in Forum Energy Technologies by 117.7% in the fourth quarter. UBS Oconnor LLC now owns 231,000 shares of the company’s stock worth $2,878,000 after buying an additional 124,900 shares during the period. Finally, Sei Investments Co. increased its position in Forum Energy Technologies by 1,340.5% in the fourth quarter. Sei Investments Co. now owns 248,459 shares of the company’s stock worth $3,096,000 after buying an additional 231,211 shares during the period.

Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas.

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