Shares of Forum Energy Technologies Inc (NYSE:FET) have received a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $0.30.

Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 31st. Piper Sandler lowered shares of Forum Energy Technologies from an “overweight” rating to a “neutral” rating and set a $0.40 price target for the company. in a research report on Monday, June 29th.

NYSE:FET traded down $0.01 during midday trading on Friday, hitting $0.59. The company had a trading volume of 35,830 shares, compared to its average volume of 3,809,821. Forum Energy Technologies has a 52-week low of $0.15 and a 52-week high of $2.01. The stock’s fifty day moving average price is $0.52 and its 200-day moving average price is $0.43. The company has a market capitalization of $66.81 million, a PE ratio of -0.11 and a beta of 4.31. The company has a quick ratio of 1.70, a current ratio of 4.25 and a debt-to-equity ratio of 0.94.

Forum Energy Technologies (NYSE:FET) last announced its earnings results on Thursday, August 6th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Forum Energy Technologies had a negative return on equity of 13.44% and a negative net margin of 80.00%. The company had revenue of $113.30 million during the quarter. As a group, research analysts forecast that Forum Energy Technologies will post -0.9 earnings per share for the current year.

In other news, EVP Neal Lux acquired 91,348 shares of the stock in a transaction dated Thursday, September 10th. The stock was purchased at an average cost of $0.50 per share, with a total value of $45,674.00. Following the completion of the purchase, the executive vice president now owns 1,242,445 shares in the company, valued at approximately $621,222.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have acquired 130,748 shares of company stock valued at $65,174. Company insiders own 25.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. State Street Corp grew its position in shares of Forum Energy Technologies by 1.9% in the 1st quarter. State Street Corp now owns 1,698,666 shares of the oil and gas company’s stock worth $301,000 after buying an additional 31,603 shares during the last quarter. UBS Group AG bought a new stake in shares of Forum Energy Technologies in the 2nd quarter worth approximately $33,000. GSA Capital Partners LLP grew its position in shares of Forum Energy Technologies by 128.2% in the 1st quarter. GSA Capital Partners LLP now owns 185,682 shares of the oil and gas company’s stock worth $33,000 after buying an additional 104,305 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Forum Energy Technologies by 14.9% in the 2nd quarter. AQR Capital Management LLC now owns 827,746 shares of the oil and gas company’s stock worth $437,000 after buying an additional 107,134 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Forum Energy Technologies in the 2nd quarter worth approximately $65,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

Forum Energy Technologies Company Profile

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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Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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