Forward Industries (NASDAQ:FORD) Shares Gap Down - Should You Sell?

Key Points

• Forward Industries (NASDAQ:FORD) shares gapped down opening at $24.54 after a previous close of $25.43, with the latest trade at $23.65.
• Analysts have downgraded Forward Industries with a "strong sell" rating from Wall Street Zen and a "sell (d-)" from Weiss Ratings, leading to an overall average rating of "Sell."
• The company reported a significant loss of ($2.17) EPS in its latest quarter, alongside a negative return on equity of 1,522.78%.

Forward Industries, Inc. (NASDAQ:FORD - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $25.43, but opened at $24.54. Forward Industries shares last traded at $23.65, with a volume of 124,436 shares trading hands.

Analyst Upgrades and Downgrades

FORD has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Forward Industries to a "strong sell" rating in a report on Saturday, August 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Forward Industries in a report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of "Sell".

Forward Industries Trading Down 9.1%

The stock's fifty day moving average price is $20.00 and its 200-day moving average price is $11.40.

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

Institutional Trading of Forward Industries

An institutional investor recently bought a new position in Forward Industries stock. Citadel Advisors LLC bought a new stake in Forward Industries, Inc. (NASDAQ:FORD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,705 shares of the textile maker's stock, valued at approximately $53,000. Citadel Advisors LLC owned about 0.97% of Forward Industries as of its most recent filing with the Securities and Exchange Commission.

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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