|Bid||0.00 x 900|
|Ask||0.00 x 800|
|Day's range||13.70 - 15.08|
|52-week range||3.00 - 29.40|
|Beta (5Y monthly)||4.28|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Forum Energy Technologies, Inc. (NYSE: FET) today announced that on December 31, 2020 it completed the sale of assets associated with its ABZ and Quadrant valve brands to Anvil and Smith-Cooper International. Total consideration for the transaction was $105 million in cash. As part of the transaction, Anvil and Smith-Cooper will employ the ABZ and Quadrant employees primarily located at the operations located in Madison, Kansas and Broussard, Louisiana.
Forum Energy Technologies, Inc. (NYSE: FET) today announced third quarter 2020 revenue of $104 million, a decrease of $10 million from the second quarter 2020. Orders received in the quarter increased by $7 million to $92 million. Net loss for the quarter was $22 million, or $0.19 per diluted share, compared to a net loss of $5 million, or $0.05 per diluted share, for the second quarter 2020. Excluding $12 million, or $0.11 per share of special items, adjusted net loss was $0.30 per diluted share in the third quarter 2020, compared to an adjusted net loss of $0.29 per diluted share in the second quarter 2020. Adjusted EBITDA was negative $10 million in the third quarter 2020, an improvement of approximately $2 million from the second quarter 2020.
Forum Energy Technologies, Inc. (NYSE: FET) ("Forum" or the "Company") announced today that its Board of Directors has approved a 1-for-20 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.01 per share, accompanied by a corresponding decrease in the Company’s authorized shares of common stock (the "Reverse Stock Split"), such that, following the consummation of the Reverse Stock Split, the number of authorized shares of common stock will be reduced from 296,000,000 to 14,800,000. The Company’s stockholders previously approved the Reverse Stock Split at the Annual Meeting of Stockholders on May 12, 2020.