Forum Energy Technologies Inc. (NYSE:FET)’s share price rose 4.1% during trading on Wednesday . The stock traded as high as $18.05 and last traded at $17.92, with a volume of 196,277 shares changing hands. The stock had previously closed at $17.21.

FET has been the topic of several research analyst reports. Credit Suisse Group AG set a $19.00 target price on shares of Forum Energy Technologies and gave the company a “buy” rating in a research note on Monday, August 1st. Capital One Financial Corp. reissued an “equal weight” rating on shares of Forum Energy Technologies in a research note on Friday, July 29th. Jefferies Group lowered their target price on shares of Forum Energy Technologies from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, July 11th. Gabelli initiated coverage on shares of Forum Energy Technologies in a research note on Thursday, September 15th. They set a “hold” rating and a $21.00 target price on the stock. Finally, Morgan Stanley set a $23.00 target price on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.89.

The stock’s 50 day moving average price is $17.52 and its 200-day moving average price is $16.02. The firm’s market capitalization is $1.65 billion.

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Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Friday, July 29th. The company reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.07. The firm earned $142.80 million during the quarter, compared to analysts’ expectations of $143.17 million. Forum Energy Technologies had a negative return on equity of 3.20% and a negative net margin of 28.04%. The company’s quarterly revenue was down 49.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. On average, equities analysts predict that Forum Energy Technologies Inc. will post ($0.78) EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in FET. Public Employees Retirement System of Ohio boosted its stake in shares of Forum Energy Technologies by 13.8% in the second quarter. Public Employees Retirement System of Ohio now owns 5,774 shares of the company’s stock worth $100,000 after buying an additional 700 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Forum Energy Technologies by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 9,868 shares of the company’s stock worth $130,000 after buying an additional 749 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Forum Energy Technologies by 7.2% in the second quarter. Teacher Retirement System of Texas now owns 8,274 shares of the company’s stock worth $143,000 after buying an additional 555 shares during the period. Virginia Retirement Systems ET AL bought a new stake in shares of Forum Energy Technologies during the second quarter worth approximately $175,000. Finally, Legal & General Group Plc boosted its stake in shares of Forum Energy Technologies by 28.9% in the first quarter. Legal & General Group Plc now owns 15,001 shares of the company’s stock worth $198,000 after buying an additional 3,364 shares during the period.

About Forum Energy Technologies

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. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas.

5 Day Chart for NYSE:FET

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