Forum Energy Technologies Inc. Hits New 52-Week Low at $24.77 (FET)
Shares of Forum Energy Technologies (NYSE:FET) hit a new 52-week low during trading hours on Tuesday, Analyst Ratings Net reports. The company traded as low as $24.77 and last traded at $25.27, with a volume of 607,621 shares trading hands. The stock had previously closed at $25.09.
FET has been the subject of a number of recent research reports. Analysts at Credit Suisse downgraded shares of Forum Energy Technologies from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, January 16th. They now have a $30.00 price target on the stock, down previously from $33.00. Separately, analysts at Howard Weil upgraded shares of Forum Energy Technologies from a “sector perform” rating to a “sector outperform” rating in a research note to investors on Thursday, January 9th. They now have a $35.00 price target on the stock. Finally, analysts at Cowen and Company cut their price target on shares of Forum Energy Technologies from $37.00 to $34.00 in a research note to investors on Tuesday, January 7th. They now have an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $32.24.
Forum Energy Technologies has a 52-week low of $24.86 and a 52-week high of $32.52. The stock has a 50-day moving average of $27.09 and a 200-day moving average of $27.87. The company has a market cap of $2.325 billion and a price-to-earnings ratio of 19.79.
Forum Energy Technologies, Inc is an oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry.
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