Forward Industries (NASDAQ:FORD) Shares Gap Up - Should You Buy?

Key Points

• Forward Industries (NASDAQ:FORD) saw its shares open at $23.00 after previously closing at $20.39, indicating a gap up before the market opened on Monday.
• Analysts currently have a consensus rating of "Sell" for Forward Industries, with Wall Street Zen recently downgrading the stock to a "strong sell" and Weiss Ratings restating a "sell (d-)" rating.
• The company reported a loss of ($2.17) earnings per share for its last quarterly results, with a negative net margin of 14.52% and a negative return on equity of 1,522.78%.

Forward Industries, Inc. (NASDAQ:FORD - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $20.39, but opened at $23.00. Forward Industries shares last traded at $23.70, with a volume of 136,016 shares.

Wall Street Analyst Weigh In

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

Forward Industries Stock Up 17.2%

The business's fifty day simple moving average is $20.93 and its two-hundred day simple moving average is $11.94.

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

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.

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