Forward Industries (NASDAQ:FORD) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Forward Industries, Inc. (NASDAQ:FORD) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.86 and traded as low as $8.56. Forward Industries shares last traded at $9.3140, with a volume of 701,048 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FORD shares. Wall Street Zen downgraded shares of Forward Industries to a “strong sell” rating in a report 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 equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Forward Industries presently has a consensus rating of “Sell”.

Forward Industries Price Performance

The firm has a market capitalization of $805.28 million, a PE ratio of -2.09 and a beta of 0.61. The company’s fifty day simple moving average is $15.88 and its 200 day simple moving average is $13.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC bought a new stake in Forward Industries during the 3rd quarter valued at $30,000. Squarepoint Ops LLC purchased a new position in shares of Forward Industries in the third quarter valued at $239,000. Virtu Financial LLC bought a new stake in shares of Forward Industries during the 3rd quarter valued at $275,000. Qube Research & Technologies Ltd purchased a new stake in Forward Industries during the 3rd quarter worth about $382,000. Finally, Bank of America Corp DE boosted its stake in Forward Industries by 5,309.1% in the 3rd quarter. Bank of America Corp DE now owns 16,065 shares of the textile maker’s stock worth $411,000 after purchasing an additional 15,768 shares during the period.

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.