Forward Industries (NASDAQ:FORD) Shares Gap Down – What’s Next?

Forward Industries, Inc. (NASDAQ:FORD)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $13.98, but opened at $10.93. Forward Industries shares last traded at $10.9740, with a volume of 943,265 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Forward Industries in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Forward Industries to a “strong sell” rating in a research note on Saturday, August 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Forward Industries Stock Performance

The company has a market capitalization of $929.37 million, a price-to-earnings ratio of -2.44 and a beta of 0.62. The business’s 50-day simple moving average is $22.95 and its 200-day simple moving average is $13.54.

Forward Industries (NASDAQ:FORD) last released 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 business had revenue of $2.49 million for the quarter.

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.