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

Key Points

• Forward Industries' shares fell sharply from a previous close of $24.68 to open at $22.00 on Friday, with the latest trading price at $21.83.
• Analysts have expressed negative sentiment, with Wall Street Zen issuing a "strong sell" rating and Weiss Ratings reaffirming a "sell (d-)" rating, leading to a consensus rating of "Sell".
• The company reported an earnings loss of ($2.17) per share for the last quarter, alongside a revenue of $2.49 million and a negative net margin of 14.52%.

Shares of Forward Industries, Inc. (NASDAQ:FORD - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $24.68, but opened at $22.00. Forward Industries shares last traded at $21.83, with a volume of 92,587 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on FORD. Wall Street Zen lowered shares of Forward Industries to a "strong sell" rating in a research report on Saturday, August 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Forward Industries in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Forward Industries currently has a consensus rating of "Sell".

Forward Industries Price Performance

The business has a 50-day simple moving average of $21.83 and a 200-day simple moving average of $12.39.

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. The firm 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%.

About Forward Industries

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.