Trading Report: Today, Forum Energy Technologies Inc. (FET) Stake Raised by Nationwide Fund Advisors

Today, Forum Energy Technologies Inc. (FET) Stake Raised by Nationwide Fund Advisors

Nationwide Fund Advisors boosted its position in Forum Energy Technologies Inc. (NYSE:FET) by 72.7% during the second quarter, Holdings Channel reports. The fund owned 86,443 shares of the company’s stock after buying an additional 36,395 shares during the period. Nationwide Fund Advisors owned about 0.10% of Forum Energy Technologies worth $1,496,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. NN Investment Partners Holdings N.V. bought a new position in Forum Energy Technologies during the first quarter worth $241,000. Strs Ohio acquired a new stake in shares of Forum Energy Technologies during the second quarter worth approximately $282,000. Barclays PLC boosted its stake in shares of Forum Energy Technologies by 73.8% in the first quarter. Barclays PLC now owns 24,281 shares of the company’s stock worth $316,000 after buying an additional 10,312 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of Forum Energy Technologies by 88.4% in the second quarter. Quantbot Technologies LP now owns 18,954 shares of the company’s stock worth $328,000 after buying an additional 8,891 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. acquired a new stake in shares of Forum Energy Technologies during the second quarter worth approximately $365,000.

Shares of Forum Energy Technologies Inc. (NYSE:FET) opened at 21.2648 on Tuesday. The firm’s 50-day moving average is $19.10 and its 200 day moving average is $16.99. Forum Energy Technologies Inc. has a 12 month low of $8.47 and a 12 month high of $22.85. The stock’s market cap is $1.93 billion.

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

A number of analysts recently commented on FET shares. Morgan Stanley set a $23.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Tuesday, September 20th. Citigroup Inc. upped their price target on shares of Forum Energy Technologies from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, October 11th. Credit Suisse Group AG set a $19.00 price target 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. upgraded shares of Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 16th. Finally, Simmons restated a “neutral” rating and set a $18.00 price target (up from $15.25) on shares of Forum Energy Technologies in a research note on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.95.

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.

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