Forum Energy Technologies Inc (NYSE:FET) reached a new 52-week low during trading on Thursday . The company traded as low as $9.62 and last traded at $9.73, with a volume of 75662 shares trading hands. The stock had previously closed at $10.01.

FET has been the topic of several research analyst reports. ValuEngine raised shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Johnson Rice lowered shares of Forum Energy Technologies from a “buy” rating to an “accumulate” rating and set a $15.00 target price on the stock. in a research note on Monday, September 17th. JPMorgan Chase & Co. increased their target price on shares of Forum Energy Technologies from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, September 17th. Simmons raised shares of Forum Energy Technologies from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $13.25 to $12.50 in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.27.

The company has a market capitalization of $1.13 billion, a PE ratio of -25.79 and a beta of 2.02. The company has a current ratio of 3.34, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Monday, July 30th. The oil and gas company reported ($0.01) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Forum Energy Technologies had a net margin of 5.08% and a negative return on equity of 1.72%. The firm had revenue of $274.00 million for the quarter, compared to the consensus estimate of $268.50 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The business’s revenue was up 36.3% on a year-over-year basis. Equities analysts anticipate that Forum Energy Technologies Inc will post -0.02 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. raised its holdings in Forum Energy Technologies by 71.7% during the first quarter. Sei Investments Co. now owns 10,651 shares of the oil and gas company’s stock worth $117,000 after buying an additional 4,448 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Forum Energy Technologies during the second quarter worth $147,000. Dynamic Technology Lab Private Ltd acquired a new position in Forum Energy Technologies during the second quarter worth $323,000. Bank of Montreal Can raised its holdings in Forum Energy Technologies by 19.3% during the third quarter. Bank of Montreal Can now owns 39,393 shares of the oil and gas company’s stock worth $408,000 after buying an additional 6,383 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Forum Energy Technologies by 35.0% during the first quarter. California Public Employees Retirement System now owns 39,295 shares of the oil and gas company’s stock worth $432,000 after buying an additional 10,195 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Forum Energy Technologies Company Profile (NYSE:FET)

Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.

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