Short Interest in Forward Industries, Inc. (NASDAQ:FORD) Grows By 279.4%

Forward Industries, Inc. (NASDAQ:FORD) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 94,100 shares, an increase of 279.4% from the September 30th total of 24,800 shares. Based on an average trading volume of 351,300 shares, the days-to-cover ratio is currently 0.3 days. Approximately 10.3% of the shares of the company are short sold.

Forward Industries Stock Up 0.8 %

Forward Industries stock traded up $0.03 during mid-day trading on Friday, hitting $3.59. 32,187 shares of the company’s stock traded hands, compared to its average volume of 996,998. The firm has a 50 day moving average price of $3.69 and a 200 day moving average price of $4.32. Forward Industries has a one year low of $3.10 and a one year high of $8.29.

Forward Industries (NASDAQ:FORD) last issued its quarterly earnings results on Wednesday, August 14th. The textile maker reported ($0.34) earnings per share (EPS) 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 for the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Forward Industries in a report on Wednesday, October 9th. They issued a “hold” rating on the stock.

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.