FWRD — Forward Air Corporation

Stock analysis, trade plans, and proprietary indicators by Trend Edge.

About Forward Air Corporation

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States, Mexico, Europe, Asia, and Canada. The company operates through three segments: Expedited Freight, Omni Logistics, and Intermodal. Its Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which inc… Read full Trend Edge analysis →

Trend Edge Proprietary Indicators

Key Metrics

Current Price$9.63
Market Cap$264M
Float25.2M
Shares Outstanding31.6M
P/E (Forward)19.92
Price/Sales (TTM)0.11
vs. Analyst Target+90.4% to analyst PT
Profit Margin-3.71%
Operating Margin (TTM)4.00%
Revenue (TTM)$2.46B
Earnings Growth (YoY)145.00%
Dividend RateNone
Analyst Target Price$18.33 (6 analysts)

Financial History

Annual Revenue & Earnings History

YearRevenueNet IncomeGross ProfitEBITDA
2020 $1.27B $23.7M $229M $111M
2021 $1.39B $106M $314M $182M
2022 $1.68B $193M $492M $290M
2023 $1.37B $167M $330M $146M
2024 $2.47B -$817M $340M -$917M
2025 $2.50B -$108M $511M $186M

Recent Quarterly Revenue & Net Income

QuarterRevenueNet Income
Jun 2025 $619M -$12.6M
Sep 2025 $632M -$16.3M
Dec 2025 $631M -$28.3M
Mar 2026 $582M -$34.3M

Ownership & Float

Insider Ownership1.8%
Institutional Ownership108.2%
Short Float11.3%
% of All Funds Holding2.04%
Number of Funds Holding168

Current Moving Averages

Trend Edge tracks near-term, medium-term, cyclical, and secular moving averages across weekly and monthly timeframes to identify trend structure at every horizon.

TimeframeSMAValueTrend Context
Weekly10-Week SMA$15.68Near-term / short-term trend
Weekly40-Week SMA$22.25Medium-term trend
Weekly80-Week SMA$23.91Cyclical trend (business cycle)
Weekly200-Week SMA$51.40Secular trend (multi-year)
Monthly10-Month SMA$22.30Near-term monthly trend
Monthly20-Month SMA$24.43Medium-term monthly trend
Monthly40-Month SMA$43.01Secular monthly trend

Volume Shelves — Support & Resistance

Trend Edge identifies volume shelves: price zones where historically elevated trading volume creates structural support or resistance. A volume shelf forms when a disproportionate share of cumulative volume was transacted at a specific price level, making it a high-conviction anchor for future price reactions.

Price LevelTypeVolume RatioAge
$21.30 resistance 2.34x 0 months ago
$24.80 resistance 1.34x 1 months ago

Historical Earnings Reactions (121 events)

TimeframeAvg ReturnMedianWin RateBestWorst
Gap -0.94% 0.07% 50.41% 24.02% -45.18%
1 Day -0.57% -0.26% 46.28% 21.07% -43.05%
1 Week 0.26% 0.29% 52.89% 32.03% -49.45%
2 Weeks 0.41% 1.07% 55.37% 39.06% -49.22%
1 Month 2.67% 2.49% 57.50% 60.16% -41.10%

Next earnings: July 26, 2026 (60 days away)

Seasonality & Day-of-Week Patterns

Monthly Seasonality

MonthAvg ReturnWin RateSamples
Jan0.0%54.5%33
Feb-0.1%45.5%33
Mar-0.4%54.5%33
Apr3.2%54.5%33
May0.6%46.9%32
Jun4.0%59.4%32
Jul2.9%59.4%32
Aug-2.6%46.9%32
Sep-3.7%40.6%32
Oct3.6%59.4%32
Nov5.6%75.0%32
Dec0.7%48.5%33

Day-of-Week Tendencies

DayAvg ReturnWin RateSamples
Monday 0.03% 49.3% 1538
Tuesday 0.07% 48.4% 1680
Wednesday 0.07% 49.9% 1679
Thursday 0.09% 49.0% 1646
Friday 0.03% 48.0% 1640

Top Institutional Holders

Institutional holder breakdown coming soon.

Total institutional ownership: 108.2%

Insider Transactions — Smart Summary

Total insider ownership: 1.8%

12-Month Insider Activity Summary

Total Filings1
Net Value+N/A
Net Shares Change-77,163
% of Float-0.3%
C-Suite Filings0
Clusters Detected0

Key Insiders

NameTitleNet ValueFilingsActivity
Cetus Capital VI, L.P. -$2.5M 1 1 buy, 1 sell

Significant Filings

DateInsiderTitleNet ValuePrice After
2026-02-17 Cetus Capital VI, L.P. -$2.5M Transaction at $19.86, now -51.5%

View full insider transaction history on Trend Edge →

AI Consult Analysis

Trend Edge's AI Consult feature delivers a comprehensive, multi-layer trade plan for Forward Air Corporation (FWRD) powered by Claude Opus — Anthropic's most capable AI model. The analysis covers five layers: technical analysis (near-term, medium-term, cyclical, and secular trend, momentum, volume shelf support and resistance, breakout and breakdown signals), qualitative analysis (business model, competitive moat, sector dynamics), insider sentiment (buy and sell signals from executive and director transactions), share stats analysis (institutional accumulation, fund positioning, short float squeeze potential), and fundamental analysis (valuation, revenue growth, profit margin, earnings quality).

AI Consult synthesizes all five layers into a single bullish or bearish thesis with explicit entry, exit, stop loss, and take profit levels — giving you a complete, AI-powered trade plan with defined risk/reward. Whether you are building a long position, initiating a short, or looking for a reversal setup, AI Consult identifies the highest-probability signal from the current trend.

Get the full AI Consult analysis for FWRD on Trend Edge →