Forum Energy Technologies Inc (NYSE:FET) saw an uptick in trading volume on Thursday . 1,605,475 shares changed hands during trading, an increase of 43% from the previous session’s volume of 1,119,297 shares.The stock last traded at $17.30 and had previously closed at $16.55.

Several research firms have issued reports on FET. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Jefferies Group set a $17.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, January 4th. Citigroup boosted their price objective on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 5th. Scotiabank set a $24.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, Barclays reiterated a “hold” rating and set a $17.00 price objective on shares of Forum Energy Technologies in a research note on Sunday, November 5th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Forum Energy Technologies currently has a consensus rating of “Hold” and a consensus target price of $17.79.

The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1,870.00, a PE ratio of -13.73 and a beta of 1.66.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. The business had revenue of $198.70 million for the quarter, compared to analysts’ expectations of $200.96 million. During the same period in the previous year, the company posted ($0.19) earnings per share. The business’s revenue for the quarter was up 43.7% compared to the same quarter last year. equities analysts forecast that Forum Energy Technologies Inc will post -0.36 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Forum Energy Technologies by 3.8% during the second quarter. Vanguard Group Inc. now owns 5,678,046 shares of the oil and gas company’s stock worth $88,577,000 after purchasing an additional 208,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Forum Energy Technologies by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 5,433,239 shares of the oil and gas company’s stock worth $84,758,000 after purchasing an additional 455,066 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Forum Energy Technologies by 96.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,541,025 shares of the oil and gas company’s stock worth $56,302,000 after purchasing an additional 1,738,375 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Forum Energy Technologies by 1.7% during the third quarter. Jennison Associates LLC now owns 2,588,049 shares of the oil and gas company’s stock worth $41,150,000 after purchasing an additional 42,861 shares in the last quarter. Finally, Cortina Asset Management LLC lifted its position in shares of Forum Energy Technologies by 6.9% during the third quarter. Cortina Asset Management LLC now owns 1,943,276 shares of the oil and gas company’s stock worth $30,898,000 after purchasing an additional 125,339 shares in the last quarter. 95.72% of the stock is currently owned by institutional investors and hedge funds.

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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.

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