FWRD

Forward Air Corporation
NasdaqGSUSDEQUITY Industrials DELAYED
Last price
15.24
▲ 0.17 (1.13%)
MARKET · —

Price

1D — H — L — Range — Vol —
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
15.03
Prev close
15.07
Day high
15.35
Day low
15.02
Volume
344.52K
Market cap
$515.50M
P/E (TTM)
—
52W range
7.86 – 31.18

Day trading desk

Current session · delayed
Gap from prior close
-0.27%
Prior close 15.07
VWAP
15.17
+0.44% from price
Relative volume
0.42×
Quiet session
Session range
9.64%
14.00 – 15.35
Position in range
92%
Near session high
ATR (14D)
0.80
5.25% of price
Prior day high
15.85
PDH
Prior day low
15.02
PDL
Bid / ask spread
—
Quote not published
Session volume
258.37K
Avg 613.14K

VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.

Trailing performance

Price return · vs SPY
Returnvs SPY
1W
+1.67% -0.3%
1M
-14.70% -15.9%
3M
+25.29% +20.8%
6M
-12.65% -30.8%
YTD
-38.96% -53.2%
1Y
-34.87% -51.3%
3Y
-77.80% -160.1%
5Y
— —

Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.

Unusual options activity

Account required
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
Free account required

Contracts trading at or above their open interest, ranked by notional and where the print landed.

Free account

5 more panels on FWRD open with an account.

Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.

Insider net activity

6m · Form 4 rollup
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
627.99K
Total on file

Insider transactions

Account required
DateInsiderAction SharesValueHeld
Jun 18, 26
BOYLES DALE W
Director
STOCK 9.54K $0 Direct
Jun 18, 26
SVINDLAND PAUL C
Director
STOCK 9.54K $0 Direct
Jun 18, 26
GORJANC CHRISTINE MARIE
Director
STOCK 9.54K $0 Direct
Mar 16, 26
PIERSON JAMIE G
Chief Financial Officer
STOCK 5.73K $0 Direct
Mar 16, 26
STEWART SHAWN
Chief Executive Officer
STOCK 18.69K $0 Direct
Feb 19, 26
PIERSON JAMIE G
Chief Financial Officer
STOCK 20.70K $0 Direct
Feb 19, 26
HANCE MICHAEL L
Officer
STOCK 10.80K $0 Direct
Feb 19, 26
SMITH DOUGLAS JAMES
Officer
STOCK 5.85K $0 Direct
Feb 19, 26
FAUGHT JAMES R.
Officer
STOCK 2.34K $0 Direct
Feb 19, 26
STEWART SHAWN
Chief Executive Officer
STOCK 43.20K $0 Direct
Feb 19, 26
LORRAIN JEROME JEAN-PIERRE
Officer and Director
STOCK 10.80K $0 Direct
Feb 19, 26
BRANDT ERIC FREDERICK
Officer
STOCK 9.00K $0 Direct
Feb 19, 26
HERREN JESSICA L
Officer
STOCK 4.95K $0 Direct
Feb 19, 26
OSBORNE TIMOTHY R
Officer
STOCK 5.85K $0 Direct
What this is, and what it is not

These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.

A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.

This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.

Free account required

Officer and director trades in their own stock, straight from Form 4 filings.

Insider holders

10 reporting
NameRelationShares heldLatest
ANDERSON CHARLES LEONARD
Director — Stock Award(Grant)
CARLOCK RONALD CRAIG
Director 23.51K Stock Award(Grant)
CETUS CAPITAL VI LP
Beneficial Owner of more than 10% of a Class of Security 3.12M Sale
EDWARDS ROBERT LEON JR
Director — Stock Award(Grant)
HANCE MICHAEL L
Officer 96.22K Stock Award(Grant)
HODGE MICHAEL B
Director 93.85K Stock Award(Grant)
OSBORNE TIMOTHY R
Officer 26.42K Stock Award(Grant)
PIERSON JAMIE G
Chief Financial Officer 91.88K Stock Award(Grant)
STEWART SHAWN
Chief Executive Officer 148.17K Stock Award(Grant)
TOMASELLO JOSEPH MICHAEL
Chief Technology Officer 30.81K Stock Award(Grant)

Fundamentals

TTM · reported
Market cap$515.50M
Enterprise value$2.48B
Revenue (TTM)$2.52B
Gross profit$541.14M
EBITDA$281.77M
Net income$-284.12M
EPS (TTM)$-9.03
Free cash flow$86.97M
Total cash$139.45M
Total debt$2.11B
Book value / share$-3.42
Shares outstanding33.78M
Float27.31M
Short % of float9.65%
Dividend yield0.00%
Beta (5Y)1.41

Valuation & profitability ratios

Account required
Trailing P/E—
Forward P/E35.49
PEG ratio0.65
Price / sales—
Price / book—
EV / revenue0.99
EV / EBITDA8.80
Gross margin21.49%
Operating margin6.34%
Profit margin-11.37%
Return on equity-735.72%
Return on assets3.06%
Debt / equity—
Current ratio1.32
Free account required

Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.

Financial statements

As reported · 5 years · 6 quarters
Blank means not reported, not zero
Line item2025202420232022YoY
Total revenue $2.50B$2.47B$1.37B$1.68B +0.8%
Operating revenue $2.50B$2.47B$1.37B$1.68B +0.8%
Cost of revenue $2.16B$2.13B$1.04B$1.19B +1.0%
Gross profit $338.18M$339.65M$330.15M$491.67M -0.4%
Selling, general & admin $58.97M$64.68M$50.13M$47.48M -8.8%
Total operating expense $301.75M$374.19M$241.94M$244.07M -19.4%
Operating income $36.42M-$34.54M$88.21M$247.59M +205.5%
Net interest income -$180.75M-$189.22M-$31.57M-$5.14M +4.5%
Pre-tax income -$147.20M-$1.25B$56.64M$242.45M +88.2%
Tax provision -$5.47M-$124.99M$13.84M$63.04M +95.6%
Net income -$107.80M-$816.97M$167.35M$193.19M +86.8%
Net income to common -$107.80M-$816.97M$167.35M$192.12M +86.8%
Basic EPS -3.51-29.666.427.17 +88.2%
Diluted EPS -3.51-29.666.407.14 +88.2%
EBIT $33.55M-$1.06B$88.21M$247.59M +103.2%
EBITDA $186.19M-$916.64M$145.62M$290.14M +120.3%
Basic shares 30.71M27.54M26.07M26.94M +11.5%
Diluted shares 30.71M27.54M26.15M27.06M +11.5%

Options analytics

Account required
Put / call volume
0.23
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
7.50
-50.9% from spot
ATM implied vol
0.0%
Nearest strike to spot
Skew (10% OTM)
-21.9%
Calls bid over puts
Call volume
22
Contracts, this expiry
Put volume
5
Contracts, this expiry
Heaviest call OI
12.50
0 contracts
Heaviest put OI
7.50
0 contracts

Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.

Free account required

Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.

Earnings

History & consensus estimates
Reported vs expected · EPS
QuarterEst.ActualSurprise
Jun 2026 -0.151.53 +1,096.1%
Mar 2026 -0.37-0.20 +45.7%
Dec 2025 -0.27-0.19 +30.0%
Sep 2025 -0.120.07 +160.7%
Forward consensus
PeriodEPSAnalystsRevenueGrowth
Current quarter 0.13 2 $673.40M +6.6%
Next quarter 0.03 2 $655.21M +3.8%
Current year -1.01 2 $2.58B +3.6%
Next year 0.43 2 $2.60B +0.5%

Analyst targets & ownership

Account required
Mean target$26.00
High target$27.00
Low target$25.00
Implied upside70.60%
Analyst count2
ConsensusBUY
Strong buy / Buy0 / 2
Hold3
Sell / Strong sell0 / 0
Held by insiders1.86%
Held by institutions97.55%
Institutions holding258
Free account required

Price targets, consensus spread, insider and institutional ownership.

Moving averages & technicals

Computed from 2Y daily closes
SMA 10
15.18
+0.42% from price
SMA 20
15.49
-1.47% from price
SMA 50
16.54
-7.73% from price
SMA 100
14.41
+5.75% from price
SMA 200
18.56
-17.76% from price
EMA 12
15.36
-0.79% from price
EMA 26
15.71
-3.01% from price
EMA 50
15.83
-3.74% from price
RSI (14)
45.5
Neutral
MACD (12,26,9)
-0.35
Hist 0.05
ATR (14)
0.80
5.25% of price
Realised vol 30D
50.0%
Annualised
Bollinger upper
16.81
20, 2σ
Bollinger lower
14.17
20, 2σ
50 / 200 cross
Death
16.54 vs 18.56
Trend bias
Below 200
-17.76%

Options chain

Account required
Expiry
Spot 15.24
Calls
StrikeLastBidAskVolOIIV
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
Puts
StrikeLastBidAskVolOIIV
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
Free account required

Every listed expiry, both sides of the book, with volume, open interest and implied volatility.

Risk profile

Daily returns · 1Y window
Beta vs SPY
1.49
More volatile than market
Correlation to SPY
0.23
Largely independent
Realised vol 30D
50.0%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-72.5%
Peak to trough
Max drawdown 5Y
-93.3%
Peak to trough
ATR 14
0.80
5.25% of price
Beta (reported)
1.41
5Y monthly, from filing

Short interest

Semi-monthly exchange report · lags by ~2 weeks
Shares short
2.16M
Prior 2.08M
Change vs prior
+4.2%
Shorts adding
% of float
9.65%
Normal
% of shares out
6.40%
Against total outstanding
Days to cover
4.5
Liquid
Float
27.31M
Freely tradeable shares

Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.

Rating changes

95 on file
DateFirm ActionFromTo
Oct 2, 26 Susquehanna MAINTAINED Positive Positive
Aug 13, 26 Susquehanna MAINTAINED Positive Positive
Aug 6, 26 Stifel MAINTAINED Buy Buy
May 8, 26 Susquehanna MAINTAINED Positive Positive
Apr 16, 26 Stifel MAINTAINED Buy Buy
Jan 21, 26 Stifel MAINTAINED Buy Buy
Jan 5, 26 Susquehanna MAINTAINED Positive Positive
Oct 17, 25 Stifel MAINTAINED Buy Buy
Aug 12, 25 Susquehanna MAINTAINED Positive Positive
Jul 24, 25 Stifel MAINTAINED Buy Buy
Jun 26, 25 Stifel UPGRADE Hold Buy
Apr 10, 25 Stifel MAINTAINED Hold Hold

Dividends & splits

Declared · from the issuer
Forward rate—
Forward yield0.00%
5-year avg yield1.03%
Payout ratio58.54%
Ex-dividend dateNov 21, 2023
Next pay dateDec 7, 2023
Last split3:2
Split dateApr 4, 2005

PRIVATE STRATEGY · BY QUALIFICATION

The same data. A different seat.

The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.