Forward Industries (NASDAQ:FORD) Trading Down 6.8% - Time to Sell?

Key Points

• Forward Industries shares experienced a significant decline of 6.8%, falling to $22.44, which is down from a previous closing price of $24.08.
• Research firms have rated the stock as a sell, with Weiss Ratings assigning a "sell (d-)" and Wall Street Zen issuing a "strong sell" rating.
• The company reported a negative earnings per share (EPS) of ($2.17) and a revenue of $2.49 million for the last quarter, indicating potential financial struggles.

Forward Industries, Inc. (NASDAQ:FORD - Get Free Report) shares fell 6.8% on Friday . The stock traded as low as $22.89 and last traded at $22.44. 97,159 shares traded hands during trading, a decline of 14% from the average session volume of 113,038 shares. The stock had previously closed at $24.08.

Analyst Ratings Changes

A number of research firms recently weighed in on FORD. Weiss Ratings restated a "sell (d-)" rating on shares of Forward Industries in a report on Wednesday. Wall Street Zen cut Forward Industries to a "strong sell" rating in a research report on Saturday, August 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Forward Industries has an average rating of "Sell".

Forward Industries Trading Down 11.7%

The business has a fifty day simple moving average of $20.76 and a 200 day simple moving average of $11.72.

Forward Industries (NASDAQ:FORD - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The textile maker reported ($2.17) earnings per share (EPS) for the quarter. The company 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%.

Hedge Funds Weigh In On Forward Industries

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC bought a new position in Forward Industries, Inc. (NASDAQ:FORD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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.

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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