Shares of Forum Energy Technologies Inc. (NYSE:FET) traded down 5% during mid-day trading on Monday . The stock traded as low as $15.46 and last traded at $15.51, with a volume of 614,038 shares traded. The stock had previously closed at $16.33.

Several analysts have issued reports on the company. JPMorgan Chase & Co. lowered Forum Energy Technologies from a “neutral” rating to an “underweight” rating and set a $10.00 target price for the company. in a research note on Tuesday, July 12th. Credit Suisse Group AG lowered Forum Energy Technologies from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $14.00 to $16.00 in a research note on Wednesday, June 1st. Jefferies Group cut their target price on Forum Energy Technologies from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, July 11th. Cowen and Company boosted their price objective on Forum Energy Technologies from $11.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday, May 2nd. Finally, Iberia Capital upgraded Forum Energy Technologies from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $21.00 in a research report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. Forum Energy Technologies has a consensus rating of “Hold” and an average target price of $16.08.

The stock has a 50-day moving average price of $16.56 and a 200-day moving average price of $14.12. The stock’s market capitalization is $1.40 billion.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Friday, July 29th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.07. The firm had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $143.17 million. The business’s quarterly revenue was down 49.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. Analysts forecast that Forum Energy Technologies Inc. will post ($0.88) EPS for the current year.

Several institutional investors recently made changes to their positions in FET. California State Teachers Retirement System boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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, State of Wisconsin Investment Board boosted its position in shares of Forum Energy Technologies by 52.3% in the fourth quarter. State of Wisconsin Investment Board now owns 316,945 shares of the company’s stock worth $3,949,000 after buying an additional 108,852 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.