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

Key Points

• Forward Industries (NASDAQ:FORD) experienced a significant drop in share price, opening at $29.12 after closing at $30.45, and was last traded at $27.76.
• Analysts have downgraded Forward Industries to a "strong sell" rating, indicating negative investor sentiment.
• The company reported a loss of $2.17 earnings per share for the quarter, along with a negative return on equity of 1,522.78% and a net margin of 14.52%.

Forward Industries, Inc. (NASDAQ:FORD - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $30.45, but opened at $29.12. Forward Industries shares last traded at $27.76, with a volume of 181,949 shares trading hands.

Analysts Set New Price Targets

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

Forward Industries Stock Performance

The firm has a 50 day moving average price of $16.09 and a two-hundred day moving average price of $9.58.

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

Institutional Trading of 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) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,705 shares of the textile maker's stock, valued at approximately $53,000. Citadel Advisors LLC owned 0.97% of Forward Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

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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