Shares of Forum Energy Technologies Inc (NYSE:FET) have been given an average rating of “Hold” by the twenty research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $16.43.
A number of equities analysts recently commented on the stock. ValuEngine downgraded shares of Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. TheStreet raised shares of Forum Energy Technologies from a “d+” rating to a “c-” rating in a research note on Friday, February 9th. Jefferies Group raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, February 13th. Finally, Piper Jaffray Companies set a $13.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Monday, February 12th.
Shares of Forum Energy Technologies (NYSE FET) traded up $0.35 during trading hours on Friday, reaching $11.95. 1,382,390 shares of the company were exchanged, compared to its average volume of 1,352,005. The company has a market capitalization of $1,250.00, a P/E ratio of -19.66 and a beta of 1.95. Forum Energy Technologies has a 52 week low of $10.05 and a 52 week high of $21.67. The company has a quick ratio of 1.61, a current ratio of 3.65 and a debt-to-equity ratio of 0.36.
In other news, CEO Prady Iyyanki purchased 90,000 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were acquired at an average cost of $10.63 per share, with a total value of $956,700.00. Following the completion of the acquisition, the chief executive officer now owns 443,417 shares of the company’s stock, valued at $4,713,522.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 32.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FET. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Forum Energy Technologies by 86.4% during the third 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 last quarter. MML Investors Services LLC purchased a new stake in shares of Forum Energy Technologies during the fourth quarter valued at $159,000. Two Sigma Investments LP purchased a new stake in shares of Forum Energy Technologies during the fourth quarter valued at $163,000. Amalgamated Bank purchased a new stake in shares of Forum Energy Technologies during the fourth quarter valued at $167,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Forum Energy Technologies during the third quarter valued at $185,000. 94.59% 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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