Understanding the Risks of Investing in Forward Air Corporation (FWRD)


Forward Air Corporation’s recently made public that its Chief Operating Officer RUBLE CHRIS C acquired Company’s shares for reported $99992.0 on Aug 25. In the deal valued at $69.77 per share,1,433 shares were bought. As a result of this transaction, RUBLE CHRIS C now holds 28,276 shares worth roughly $ 2.0 million.

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Then, Campbell C Robert bought 5,000 shares, generating $321,650 in total proceeds. Upon buying the shares at $64.33, the Director now owns 28,994 shares.

Before that, Carlock Craig bought 1,600 shares. Forward Air Corporation shares valued at $103,744 were divested by the Director at a price of $64.84 per share. As a result of the transaction, Carlock Craig now holds 16,550 shares, worth roughly $1.17 million.

Wolfe Research upgraded its Forward Air Corporation [FWRD] rating to a Peer perform from a an Underperform in a research note published on Monday.

Price Performance Review of FWRD

On Monday, Forward Air Corporation [NASDAQ:FWRD] saw its stock fall -0.45% to $70.89. On the same session, the stock had its day’s lowest price of $70.24, but rose to a high of $72.57. Over the last five days, the stock has gained 8.79%. Forward Air Corporation shares have fallen nearly -32.41% since the year began. Nevertheless, the stocks have fallen -32.71% over the past one year. While a 52-week high of $121.38 was reached on 07/27/23, a 52-week low of $60.09 was recorded on 08/17/23. SMA at 50 days reached $99.89, while 200 days put it at $103.60. A total of 0.9 million shares were traded, compared to the trading of 1.04 million shares in the previous session.

Levels Of Support And Resistance For FWRD Stock

The 24-hour chart illustrates a support level at 69.90, which if violated will result in even more drops to 68.90. On the upside, there is a resistance level at 72.23. A further resistance level may holdings at 73.56. The Relative Strength Index (RSI) on the 14-day chart is 30.06, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.73%. Stochastics %K at 18.76% indicates the stock is a buying.

How much short interest is there in Forward Air Corporation?

A steep rise in short interest was recorded in Forward Air Corporation stocks on Aug 14, 2023, dropping by -0.14 million shares to a total of 0.23 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.37 million shares. There was a decline of -61.31%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.27% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.58.

Forward Air Corporation [FWRD] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 3,763,594 shares, or roughly 14.50% of the outstanding FWRD shares. In other words, the investor’s shares have fallen by -58,132 from its previous 13-F filing of 3821726.0. Additionally, The Vanguard Group, Inc. decreased -3.94% of its stake after which the total value it holdings stand at $341,926,448, while Thrivent Asset Management LLC added 38.34% of its stake to hold $187.84 million in the firm. Over the last quarter, Neuberger Berman Investment Advis sold -44,761 shares of Forward Air Corporation, while Silvercrest Asset Management Grou sold 29,028 shares. At present, ClearBridge Investments LLC is holding 988,789 shares valued at $117.51 million. SSgA Funds Management, Inc. owned 974,034 shares of the company at the time of its most recent 13F filing, worth $115.75 million.

According to FactSet, Forward Air Corporation’s share price will average $86.40 in the next year, based on opinions of analysts polled by the firm. This is up nearly 19.37 percent from its previous closing price of $71.21. Analysts expect Forward Air Corporation stock to reach the higher price of $103.00, while the lowest price estimate is $76.00. However, 8 analysts have rated FWRD stock as an Overweight in their predictions for 2023.


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