Forum Energy Technologies (FET) : Traders are bullish on Forum Energy Technologies (FET) as it has outperformed the S&P 500 by a wide margin of 0.79% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.05%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.49% in the last 1 week, and is up 3.3% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Forum Energy Technologies (NYSE:FET): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.22 and $16.11 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.91. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.90, notching a gain of 4.71% for the day. The total traded volume was 713,710 . The stock had closed at $16.14 on the previous day.
The stock has recorded a 20-day Moving Average of 5.61% and the 50-Day Moving Average is 1.12%. Forum Energy Technologies, Inc. is up 2.11% in the last 3-month period. Year-to-Date the stock performance stands at 35.63%.
Forum Energy Technologies (FET) has been rated by 15 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $23 and the lowest price target forecast is $10. The average forecast of all the analysts is $17.37 and the expected standard deviation is $3.72.
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. 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. Its capital products are targeted at drilling rig equipment for rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells, and downstream capital projects. Its engineered systems are components used on drilling rigs or in the course of subsea operations, while its consumable products are used to maintain operations at well sites in the well construction process, within the supporting infrastructure and at processing centers and refineries. Its segments are Drilling & Subsea and Production & Infrastructure.