Short Interest in Forward Industries, Inc. (NASDAQ:FORD) Drops By 59.2%

Forward Industries, Inc. (NASDAQ:FORD) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 38,400 shares, a drop of 59.2% from the October 15th total of 94,100 shares. Based on an average trading volume of 332,100 shares, the days-to-cover ratio is currently 0.1 days. Approximately 4.2% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Forward Industries in a research report on Wednesday. They set a “hold” rating on the stock.

Forward Industries Stock Performance

Shares of FORD stock traded down $0.08 on Friday, reaching $4.00. 5,687 shares of the stock were exchanged, compared to its average volume of 126,949. Forward Industries has a twelve month low of $3.10 and a twelve month high of $8.29. The business’s 50 day moving average price is $3.72 and its 200 day moving average price is $4.17.

Forward Industries (NASDAQ:FORD) last announced its quarterly earnings results on Wednesday, August 14th. The textile maker reported ($0.34) earnings per share for the quarter. Forward Industries had a negative net margin of 10.22% and a negative return on equity of 52.85%. The firm had revenue of $7.89 million during the quarter.

Forward Industries Company Profile

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.