Trade-Ideas LLC identified Forward Industries ( FORD) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Forward Industries as such a stock due to the following factors:

  • FORD has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $11.0 million.
  • FORD has traded 288,577 shares today.
  • FORD is trading at 19.72 times the normal volume for the stock at this time of day.
  • FORD is trading at a new high 6.36% above yesterday's close.

'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.

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More details on FORD:

Forward Industries, Inc., together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for hand held electronic devices. FORD has a PE ratio of 8.

The average volume for Forward Industries has been 1.2 million shares per day over the past 30 days. Forward has a market cap of $14.4 million and is part of the consumer goods sector and consumer non-durables industry. The stock has a beta of -2.97 and a short float of 8.2% with 0.09 days to cover. Shares are up 66.3% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Forward Industries as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and poor profit margins.

Highlights from the ratings report include:
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Textiles, Apparel & Luxury Goods industry and the overall market, FORWARD INDUSTRIES INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • The gross profit margin for FORWARD INDUSTRIES INC is rather low; currently it is at 18.81%. Regardless of FORD's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 6.84% trails the industry average.
  • The revenue fell significantly faster than the industry average of 10.4%. Since the same quarter one year prior, revenues fell by 20.2%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • FORWARD INDUSTRIES INC has shown improvement in its earnings for its most recently reported quarter when compared with the same quarter a year earlier. Stable Earnings per share over the past year indicate the company has sound management over its earnings and share float. During the past fiscal year, FORWARD INDUSTRIES INC's EPS of -$0.07 remained unchanged from the prior years' EPS of -$0.07.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Textiles, Apparel & Luxury Goods industry. The net income increased by 2375.0% when compared to the same quarter one year prior, rising from $0.02 million to $0.50 million.

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