Forum Energy Technologies, Inc. (NYSE:FET) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

A number of other brokerages have also recently issued reports on FET. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, April 18th. TheStreet cut Forum Energy Technologies from a “c-” rating to a “d+” rating in a research note on Thursday, May 25th. Deutsche Bank AG reiterated a “buy” rating and set a $25.00 price objective (down previously from $26.00) on shares of Forum Energy Technologies in a research note on Tuesday, May 30th. Wolfe Research cut Forum Energy Technologies from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $24.00 to $21.00 in a research note on Monday, April 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $19.00 price objective (down previously from $25.00) on shares of Forum Energy Technologies in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Forum Energy Technologies presently has a consensus rating of “Hold” and an average price target of $20.50.

Shares of Forum Energy Technologies (NYSE FET) traded up 2.67% during trading on Friday, reaching $13.45. The company’s stock had a trading volume of 508,307 shares. The stock’s 50 day moving average price is $15.33 and its 200 day moving average price is $18.39. Forum Energy Technologies has a 52 week low of $12.75 and a 52 week high of $26.25. The company’s market cap is $1.29 billion.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. The company had revenue of $201.10 million for the quarter, compared to analysts’ expectations of $194.16 million. Equities research analysts predict that Forum Energy Technologies will post ($0.31) EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in FET. Virginia Retirement Systems ET AL raised its stake in Forum Energy Technologies by 8.7% in the first quarter. Virginia Retirement Systems ET AL now owns 10,979 shares of the oil and gas company’s stock valued at $227,000 after buying an additional 879 shares during the period. OLD National Bancorp IN raised its stake in Forum Energy Technologies by 7.9% in the first quarter. OLD National Bancorp IN now owns 12,050 shares of the oil and gas company’s stock valued at $249,000 after buying an additional 885 shares during the period. US Bancorp DE raised its stake in Forum Energy Technologies by 8.0% in the second quarter. US Bancorp DE now owns 13,241 shares of the oil and gas company’s stock valued at $206,000 after buying an additional 986 shares during the period. Adams Diversified Equity Fund Inc. raised its stake in Forum Energy Technologies by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 46,600 shares of the oil and gas company’s stock valued at $965,000 after buying an additional 1,300 shares during the period. Finally, Cutler Group LP raised its stake in Forum Energy Technologies by 22.8% in the second quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 1,300 shares during the period.

Forum Energy Technologies Company Profile

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. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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