Forward Industries (NASDAQ:FORD) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Forward Industries, Inc. (NASDAQ:FORD)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forward Industries in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Forward Industries Trading Up 4.3%

The firm has a market capitalization of $805.28 million, a PE ratio of -2.09 and a beta of 0.61. The firm has a 50 day simple moving average of $10.60 and a 200 day simple moving average of $14.27.

Institutional Investors Weigh In On Forward Industries

Several large investors have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new position in Forward Industries in the 3rd quarter worth about $30,000. Squarepoint Ops LLC bought a new stake in shares of Forward Industries in the third quarter worth approximately $239,000. Virtu Financial LLC purchased a new position in shares of Forward Industries during the third quarter valued at approximately $275,000. Qube Research & Technologies Ltd bought a new position in Forward Industries during the third quarter valued at approximately $382,000. Finally, Bank of America Corp DE boosted its holdings in Forward Industries by 5,309.1% in the third 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 last quarter.

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.