Shares of Forum Energy Technologies Inc (NYSE:FET) fell 8.6% during mid-day trading on Thursday . The company traded as low as $4.75 and last traded at $4.80. 1,302,539 shares traded hands during mid-day trading, an increase of 19% from the average session volume of 1,094,532 shares. The stock had previously closed at $5.25.
A number of research firms recently issued reports on FET. Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Credit Suisse Group lowered their target price on Forum Energy Technologies from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Barclays set a $12.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a research report on Wednesday, October 10th. Citigroup lowered their target price on Forum Energy Technologies from $13.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Finally, Morgan Stanley set a $12.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a research report on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $12.18.
The stock has a market capitalization of $572.03 million, a price-to-earnings ratio of -12.63 and a beta of 2.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 1.25.
Forum Energy Technologies Company Profile (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 in 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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