Forward Industries (NASDAQ:FORD) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?
by Teresa Graham · The Cerbat GemForward Industries, Inc. (NASDAQ:FORD – Get Free Report)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.27 and traded as low as $8.56. Forward Industries shares last traded at $9.3140, with a volume of 701,048 shares.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Forward Industries in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Forward Industries has a consensus rating of “Sell”.
Check Out Our Latest Report on Forward Industries
Forward Industries Stock Performance
The company has a 50-day simple moving average of $10.42 and a 200-day simple moving average of $14.24. The company has a market cap of $805.28 million, a price-to-earnings ratio of -2.09 and a beta of 0.61.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Multicoin Capital Management LLC acquired a new stake in Forward Industries in the third quarter valued at $203,000. Alyeska Investment Group L.P. purchased a new position in shares of Forward Industries in the 3rd quarter valued at about $89,841,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Forward Industries in the third quarter valued at about $34,554,000. Ghisallo Capital Management LLC acquired a new stake in shares of Forward Industries in the third quarter valued at about $34,554,000. Finally, Monashee Investment Management LLC purchased a new stake in Forward Industries during the third quarter worth about $10,366,000.
About Forward Industries
Forward Industries, Inc (NASDAQ: FORD) is a designer and manufacturer of protective packaging solutions serving customers in electronics, telecommunications, medical devices, cosmetics and consumer goods markets. The company specializes in creating custom-configured trays, cases and inserts that safeguard high-value products during assembly, shipping and retail display. Its portfolio encompasses thermoformed plastic packaging, injection-molded trays, corrugated and rigid board solutions, foam inserts and retail-ready clamshells.
Founded in 1942 and headquartered in Hauppauge, New York, Forward Industries combines in-house design capabilities with global manufacturing operations to deliver end-to-end packaging services.