Forward Industries (NASDAQ:FORD) Trading Up 8.4% - Still a Buy?

Key Points

• Forward Industries' stock price increased by 8.4% during mid-day trading, reaching $24.42 from a previous close of $22.53, with a significant trading volume spike.
• Analysts are largely bearish on Forward Industries, with Weiss Ratings giving a "sell (d-)" rating and Wall Street Zen categorizing it as a "strong sell," resulting in an average rating of "sell" for the stock.
• The company reported a loss of $2.17 per share in its latest earnings report, reflecting negative net margins of 14.52% and an astonishing -1,522.78% return on equity.

Forward Industries, Inc. (NASDAQ:FORD - Get Free Report)'s stock price rose 8.4% during mid-day trading on Monday . The company traded as high as $24.77 and last traded at $24.42. Approximately 232,540 shares changed hands during mid-day trading, an increase of 123% from the average daily volume of 104,296 shares. The stock had previously closed at $22.53.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FORD shares. Weiss Ratings restated a "sell (d-)" rating on shares of Forward Industries in a research note on Saturday, September 27th. Wall Street Zen lowered Forward Industries to a "strong sell" rating in a research note on Saturday, August 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of "Sell".

Forward Industries Trading Up 12.9%

The stock has a fifty day simple moving average of $19.71 and a 200-day simple moving average of $11.25.

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 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%.

Institutional Investors Weigh In On Forward Industries

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

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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