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

FET has been the subject of several recent research reports. Scotiabank reissued a “sector perform” rating and set a $19.00 price objective (up previously from $16.00) on shares of Forum Energy Technologies in a research report on Friday, June 17th. GMP Securities lowered Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. Capital One Financial Corp. reissued an “equal weight” rating on shares of Forum Energy Technologies in a research report on Friday, July 29th. Credit Suisse Group AG lowered Forum Energy Technologies from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $16.00 in a research report on Wednesday, June 1st. Finally, Morgan Stanley raised their price objective on Forum Energy Technologies from $10.50 to $14.50 and gave the company an “equal weight” rating in a research report on Tuesday, April 19th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.08.

The stock’s 50 day moving average price is $16.44 and its 200-day moving average price is $14.25. The stock’s market capitalization is $1.43 billion.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $143.17 million. The company’s revenue for the quarter was down 49.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. Analysts anticipate that Forum Energy Technologies Inc. will post ($0.80) earnings per share for the current year.

A number of large investors have added to or reduced their stakes in the stock. 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 period. 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 period. 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 period. State of Wisconsin Investment Board boosted its stake in 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. Finally, 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 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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