Forum Energy Technologies Inc. (NYSE:FET) traded down 8% during mid-day trading on Monday . The stock traded as low as $14.83 and last traded at $14.90, with a volume of 687,527 shares. The stock had previously closed at $16.19.

Several equities research analysts recently issued reports on the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of Forum Energy Technologies in a research note on Sunday, May 22nd. Zacks Investment Research raised shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th. JPMorgan Chase & Co. downgraded shares of Forum Energy Technologies from a “neutral” rating to an “underweight” rating and set a $10.00 price target on the stock. in a research note on Tuesday, July 12th. Morgan Stanley reaffirmed a “hold” rating on shares of Forum Energy Technologies in a research note on Monday, May 2nd. Finally, Citigroup Inc. lifted their price target on shares of Forum Energy Technologies from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Forum Energy Technologies currently has a consensus rating of “Hold” and a consensus target price of $15.64.

The stock’s 50-day moving average price is $16.85 and its 200-day moving average price is $14.06. The stock’s market capitalization is $1.37 billion.

Forum Energy Technologies (NYSE:FET) last released its earnings results on Friday, April 29th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. The company had revenue of $159 million for the quarter, compared to analysts’ expectations of $166.55 million. On average, equities research analysts predict that Forum Energy Technologies Inc. will post ($0.92) earnings per share for the current fiscal year.

A number of institutional investors recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted 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 valued at $1,370,000 after buying an additional 1,989 shares during the last quarter. New York State Common Retirement Fund boosted 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 valued at $1,375,000 after buying an additional 53,433 shares during the last quarter. Royce & Associates LLC boosted 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 valued at $2,553,000 after buying an additional 132,919 shares during the last quarter. UBS Oconnor LLC boosted 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 valued at $2,878,000 after buying an additional 124,900 shares during the last quarter. Finally, Sei Investments Co. boosted 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 valued at $3,096,000 after buying an additional 231,211 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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