Forward Industries (NASDAQ:FORD) Shares Gap Down – Time to Sell?

Shares of Forward Industries, Inc. (NASDAQ:FORD) gapped down prior to trading on Friday . The stock had previously closed at $24.68, but opened at $22.00. Forward Industries shares last traded at $21.83, with a volume of 92,587 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Forward Industries to a “strong sell” rating in a research note on Saturday, August 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Forward Industries in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Forward Industries Trading Down 11.9%

The business’s 50-day moving average price is $21.98 and its two-hundred day moving average price is $12.57.

Forward Industries (NASDAQ:FORD) 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 for the quarter. Forward Industries had a negative return on equity of 1,522.78% and a negative net margin of 14.52%.

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.