Forum Energy Technologies (FET) has risen sharply, recording gains of 6.09% in the past 4 weeks. However, the stock has corrected -1.1% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 6.24% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 1.84% and the 50-Day Moving Average is 7.03%.The 200 Day SMA reached 25.3%. Forum Energy Technologies, Inc. has dropped 2.02% during the last 3-month period . Year-to-Date the stock performance stands at 43.9%.
Forum Energy Technologies (NYSE:FET): After opening at $18, the stock dipped to an intraday low of $17.61 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $18.07 and the buying power remained strong till the end. The stock closed at $17.93 for the day, a gain of 1.64% for the day session. The total traded volume was 513,586. The stocks close on the previous trading day was $17.64.
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.