Forward Industries (NASDAQ:FORD) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Forward Industries (NASDAQ:FORD) recently crossed above its 200-day moving average of $11.58, demonstrating a notable price increase to a high of $26.65 before last trading at $24.60.
• Despite the positive price movement, Wall Street analysts have issued a general consensus of "Sell" ratings for Forward Industries, including a "strong sell" from Wall Street Zen and a "sell (d-)" from Weiss Ratings.
• The company reported a negative earnings per share of ($2.17) along with a negative net margin of 14.52% during its last earnings report, highlighting ongoing financial struggles.

Forward Industries, Inc. (NASDAQ:FORD - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.58 and traded as high as $26.65. Forward Industries shares last traded at $24.60, with a volume of 723,135 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of Forward Industries to a "strong sell" rating in a report on Saturday, August 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Forward Industries in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of "Sell".

Forward Industries Price Performance

The stock's fifty day simple moving average is $20.52 and its 200-day simple moving average is $11.58.

Forward Industries (NASDAQ:FORD - Get Free Report) last issued 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 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.

Institutional Trading of Forward Industries

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC purchased a new stake in Forward Industries, Inc. (NASDAQ:FORD - Free Report) during the 4th quarter, according to its most recent 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 about 0.97% of Forward Industries at the end of the most recent reporting period.

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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