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

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

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Forward Industries in a research report on Wednesday. They issued a “hold” rating on the stock.

Forward Industries Price Performance

NASDAQ:FORD traded down $0.08 during mid-day trading on Friday, reaching $4.00. 5,687 shares of the company’s stock were exchanged, compared to its average volume of 126,949. The business’s fifty day simple moving average is $3.72 and its two-hundred day simple moving average is $4.17. Forward Industries has a one year low of $3.10 and a one year high of $8.29.

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

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.