Shares of Forum Energy Technologies, Inc. (NYSE:FET) hit a new 52-week low during trading on Friday . The company traded as low as $12.05 and last traded at $12.08, with a volume of 316,162 shares changing hands. The stock had previously closed at $12.20.

FET has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, April 18th. TheStreet cut shares of Forum Energy Technologies from a “c-” rating to a “d+” rating in a research report on Thursday, May 25th. Deutsche Bank AG reaffirmed a “buy” rating and set a $25.00 price target (down previously from $26.00) on shares of Forum Energy Technologies in a research report on Tuesday, May 30th. Wolfe Research lowered shares of Forum Energy Technologies from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $24.00 to $21.00 in a report on Monday, April 17th. Finally, BidaskClub lowered shares of Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $20.50.

The firm has a 50 day moving average price of $14.55 and a 200-day moving average price of $17.98. The firm’s market cap is $1.17 billion.

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

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Forum Energy Technologies by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock valued at $113,213,000 after buying an additional 205,452 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Forum Energy Technologies by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,978,173 shares of the oil and gas company’s stock valued at $103,046,000 after buying an additional 364,686 shares during the last quarter. BlackRock Inc. raised its stake in Forum Energy Technologies by 28,940.8% in the first quarter. BlackRock Inc. now owns 4,365,706 shares of the oil and gas company’s stock valued at $90,370,000 after buying an additional 4,350,673 shares during the last quarter. Aberdeen Asset Management PLC UK raised its stake in Forum Energy Technologies by 29.8% in the second quarter. Aberdeen Asset Management PLC UK now owns 3,180,777 shares of the oil and gas company’s stock valued at $49,620,000 after buying an additional 731,128 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in Forum Energy Technologies during the first quarter valued at approximately $52,681,000.

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About Forum Energy Technologies

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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