Forum Energy Technologies (FET) Shares are Up 9.06%

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 11.36% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.88%, 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 9.06% in the last 1 week, and is up 10.76% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 9.99% and the 50-Day Moving Average is 14.35%.The 200 Day SMA reached 35.13%

Forum

Forum Energy Technologies (NYSE:FET): After opening at $20.06, the stock dipped to an intraday low of $19.84 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $20.29 and the buying power remained strong till the end. The stock closed at $19.86 for the day, a gain of 0.30% for the day session. The total traded volume was 1,667,639. The stocks close on the previous trading day was $19.86.

Forum Energy Technologies (FET) : The consensus price target for Forum Energy Technologies (FET) is $18.54 for the short term with a standard deviation of $3.72. The most optimist securities analyst among the 14 who monitor the stock believes that the stock can reach $23, however, the pessimist price target for the company is $12.

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.

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