Forum Energy Technologies Inc. (NYSE:FET) shares traded down 3.8% on Wednesday . The stock traded as low as $16.32 and last traded at $16.49, with a volume of 243,390 shares traded. The stock had previously closed at $17.15.

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Forum Energy Technologies from a “neutral” rating to an “underweight” rating and set a $10.00 target price on the stock. in a research report on Tuesday. Credit Suisse Group AG downgraded shares of Forum Energy Technologies from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $16.00 in a research report on Wednesday, June 1st. Cowen and Company lifted their target price on shares of Forum Energy Technologies from $11.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, May 2nd. Jefferies Group dropped their target price on shares of Forum Energy Technologies from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Iberia Capital reissued a “hold” rating and issued a $14.00 target price on shares of Forum Energy Technologies in a research report on Monday, April 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. Forum Energy Technologies has an average rating of “Hold” and an average target price of $15.53.

The company’s market cap is $1.46 billion. The stock has a 50-day moving average price of $17.13 and a 200 day moving average price of $13.78.

Forum Energy Technologies (NYSE:FET) last posted its 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 analyst estimates of $166.55 million. On average, equities research analysts expect that Forum Energy Technologies Inc. will post ($0.91) EPS for the current fiscal year.

A number of hedge funds have bought and sold shares of FET. Dimensional Fund Advisors LP boosted its stake in Forum Energy Technologies by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,953,966 shares of the company’s stock worth $24,346,000 after buying an additional 168,878 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in Forum Energy Technologies by 11.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 839,686 shares of the company’s stock worth $10,462,000 after buying an additional 83,050 shares during the last quarter. UBS Oconnor LLC boosted its stake 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 last quarter. Aberdeen Asset Management PLC UK boosted its stake in Forum Energy Technologies by 45.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 537,413 shares of the company’s stock worth $6,976,000 after buying an additional 169,100 shares during the last quarter. Finally, Royce & Associates LLC boosted its stake 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 last quarter.

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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