Forward Industries (NASDAQ:FORD) Shares Down 6% - Here's Why

Key Points

• Forward Industries, Inc. shares fell 6% to approximately $24.91 during trading on Tuesday, with an increased trading volume of 154,554 shares.
• Wall Street Zen has downgraded Forward Industries to a "strong sell" rating, reflecting concerns over its financial performance.
• The company reported a significant loss with an EPS of ($2.17) and a negative net margin of 14.52% in its latest earnings results.

Forward Industries, Inc. (NASDAQ:FORD - Get Free Report) fell 6% during trading on Tuesday . The company traded as low as $24.92 and last traded at $24.91. 154,554 shares traded hands during mid-day trading, an increase of 60% from the average session volume of 96,408 shares. The stock had previously closed at $26.51.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Forward Industries to a "strong sell" rating in a report on Saturday, August 23rd.

Forward Industries Stock Performance

The company has a 50-day moving average of $18.52 and a 200 day moving average of $10.66.

Forward Industries (NASDAQ:FORD - Get Free Report) last issued its earnings results on Thursday, August 14th. The textile maker reported ($2.17) EPS for the quarter. The business had revenue of $2.49 million during the quarter. Forward Industries had a negative net margin of 14.52% and a negative return on equity of 1,522.78%.

Hedge Funds Weigh In On Forward Industries

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC purchased a new position in shares of Forward Industries, Inc. (NASDAQ:FORD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,705 shares of the textile maker's stock, valued at approximately $53,000. Citadel Advisors LLC owned approximately 0.97% of Forward Industries as of its most recent SEC filing.

Forward Industries Company Profile

Forward Industries, Inc, together with its subsidiaries, designs, manufactures, sources, markets, and distributes carry and protective solutions. The company operates in two segments: OEM Distribution and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, GPS location devices, tablets, and firearms.

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