Forum Energy Technologies Inc (NYSE:FET) was down 1.3% during trading on Monday after Deutsche Bank lowered their price target on the stock from $17.00 to $16.00. Deutsche Bank currently has a hold rating on the stock. Forum Energy Technologies traded as low as $10.70 and last traded at $11.60. Approximately 2,241,684 shares changed hands during mid-day trading, an increase of 99% from the average daily volume of 1,128,400 shares. The stock had previously closed at $11.75.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday, October 16th. Barclays restated a “hold” rating and issued a $17.00 price target on shares of Forum Energy Technologies in a research report on Sunday, November 5th. Cowen set a $13.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, January 11th. Jefferies Group set a $17.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, B. Riley set a $13.00 price target on shares of Forum Energy Technologies and gave the company a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.50.

A number of institutional investors have recently added to or reduced their stakes in the business. Suntrust Banks Inc. increased its stake in Forum Energy Technologies by 0.5% in the 2nd quarter. Suntrust Banks Inc. now owns 14,776 shares of the oil and gas company’s stock valued at $229,000 after buying an additional 68 shares during the period. Nationwide Fund Advisors increased its stake in Forum Energy Technologies by 1.7% in the 2nd quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock valued at $1,040,000 after buying an additional 1,083 shares during the period. California State Teachers Retirement System increased its stake in Forum Energy Technologies by 3.4% in the 2nd quarter. California State Teachers Retirement System now owns 122,266 shares of the oil and gas company’s stock valued at $1,907,000 after buying an additional 4,034 shares during the period. Moody Aldrich Partners LLC increased its stake in Forum Energy Technologies by 13.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 34,703 shares of the oil and gas company’s stock valued at $552,000 after buying an additional 4,038 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Forum Energy Technologies by 86.4% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock valued at $152,000 after buying an additional 4,429 shares during the period. Hedge funds and other institutional investors own 95.12% of the company’s stock.

The firm has a market cap of $1,230.00, a P/E ratio of -17.27 and a beta of 1.70. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). The company had revenue of $247.70 million during the quarter, compared to analyst estimates of $249.85 million. Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 3.11%. The firm’s quarterly revenue was up 68.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) EPS. analysts expect that Forum Energy Technologies Inc will post 0.15 earnings per share for the current year.

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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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