Short Interest in Forward Industries, Inc. (NASDAQ:FORD) Expands By 1,518.9%

Key Points

• The short interest in Forward Industries, Inc. (NASDAQ:FORD) surged by 1,518.9% in September, rising from 24,900 shares to a total of 403,100 shares.
• Forward Industries recently reported a quarterly loss of ($2.17) earnings per share and had a revenue of $2.49 million.
• Wall Street analysts downgraded Forward Industries to a "strong sell" rating, reflecting concerns about the company's financial performance.

Forward Industries, Inc. (NASDAQ:FORD - Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 403,100 shares, a growth of 1,518.9% from the August 31st total of 24,900 shares. Based on an average daily volume of 204,200 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 204,200 shares, the days-to-cover ratio is presently 2.0 days.

Forward Industries Price Performance

Shares of Forward Industries stock traded down $0.94 on Tuesday, reaching $25.57. The stock had a trading volume of 384,969 shares, compared to its average volume of 97,822. The business's 50-day moving average price is $18.52 and its two-hundred day moving average price is $10.66. Forward Industries has a fifty-two week low of $3.30 and a fifty-two week high of $46.00.

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 for the quarter. The firm had revenue of $2.49 million during the quarter. Forward Industries had a negative return on equity of 1,522.78% and a negative net margin of 14.52%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Forward Industries to a "strong sell" rating in a research note on Saturday, August 23rd.

Institutional Investors Weigh In On Forward Industries

An institutional investor recently bought a new position in Forward Industries stock. Citadel Advisors LLC bought a new stake in shares of Forward Industries, Inc. (NASDAQ:FORD - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,705 shares of the textile maker's stock, valued at approximately $53,000. Citadel Advisors LLC owned 0.97% of Forward Industries at the end of the most recent quarter.

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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