Forward Industries (NASDAQ:FORD) Shares Cross Above 200-Day Moving Average – Time to Sell?

Shares of Forward Industries, Inc. (NASDAQ:FORD) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.47 and traded as high as $4.59. Forward Industries shares last traded at $4.03, with a volume of 42,824 shares.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Forward Industries in a report on Saturday. They issued a “hold” rating on the stock.

Forward Industries Stock Down 7.1 %

The stock’s 50 day moving average is $5.08 and its 200 day moving average is $4.47.

Forward Industries (NASDAQ:FORD) last announced its quarterly earnings results on Thursday, February 13th. The textile maker reported ($0.64) earnings per share (EPS) for the quarter. Forward Industries had a negative net margin of 7.77% and a negative return on equity of 227.10%. The business had revenue of $6.62 million during the quarter.

Institutional Investors Weigh In On Forward Industries

An institutional investor recently bought a new position in Forward Industries stock. Citadel Advisors LLC purchased a new position in shares of Forward Industries, Inc. (NASDAQ:FORD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,705 shares of the textile maker’s stock, valued at approximately $53,000. Citadel Advisors LLC owned about 0.97% of Forward Industries at the end of the most recent reporting 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.