Forum Energy Technologies (NYSE:FET) Stock Price Up 5.2%

Forum Energy Technologies Inc (NYSE:FET)’s stock price rose 5.2% on Thursday . The stock traded as high as $1.04 and last traded at $1.01, approximately 527,793 shares were traded during trading. A decline of 54% from the average daily volume of 1,143,684 shares. The stock had previously closed at $0.96.

FET has been the topic of several recent research reports. Morgan Stanley decreased their price target on Forum Energy Technologies from $3.50 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Piper Jaffray Companies decreased their price target on Forum Energy Technologies from $4.25 to $3.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Citigroup lowered Forum Energy Technologies from a “buy” rating to a “neutral” rating in a report on Monday, September 30th. Scotiabank set a $1.00 price target on Forum Energy Technologies and gave the company a “hold” rating in a report on Monday, August 26th. Finally, Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a report on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $3.09.

The company has a 50-day simple moving average of $1.26 and a 200 day simple moving average of $2.51. The company has a market cap of $106.39 million, a P/E ratio of 50.50 and a beta of 2.44. The company has a current ratio of 3.09, a quick ratio of 1.11 and a debt-to-equity ratio of 0.93.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The company had revenue of $239.30 million for the quarter, compared to the consensus estimate of $245.31 million. Forum Energy Technologies had a negative return on equity of 0.34% and a negative net margin of 91.13%. On average, equities analysts forecast that Forum Energy Technologies Inc will post -0.2 EPS for the current fiscal year.

In other Forum Energy Technologies news, CEO C Christopher Gaut acquired 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $1.35 per share, with a total value of $27,000.00. Following the transaction, the chief executive officer now directly owns 1,827,333 shares of the company’s stock, valued at approximately $2,466,899.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 28.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new position in Forum Energy Technologies in the 2nd quarter valued at $35,000. SG Americas Securities LLC grew its position in shares of Forum Energy Technologies by 77.8% during the 3rd quarter. SG Americas Securities LLC now owns 25,896 shares of the oil and gas company’s stock worth $40,000 after buying an additional 11,332 shares in the last quarter. Alambic Investment Management L.P. bought a new position in shares of Forum Energy Technologies during the 2nd quarter worth $60,000. Menta Capital LLC bought a new position in shares of Forum Energy Technologies during the 2nd quarter worth $62,000. Finally, Gamco Investors INC. ET AL grew its position in shares of Forum Energy Technologies by 34.5% during the 3rd quarter. Gamco Investors INC. ET AL now owns 56,864 shares of the oil and gas company’s stock worth $88,000 after buying an additional 14,600 shares in the last quarter. 87.14% of the stock is currently owned by institutional investors.

About Forum Energy Technologies (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 through 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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