Forza X1 (NASDAQ:FRZA) Stock Price Down 4.8% – Here’s Why

Forza X1, Inc. (NASDAQ:FRZA)’s share price fell 4.8% during trading on Wednesday . The company traded as low as $0.17 and last traded at $0.22. 55,993 shares were traded during mid-day trading, a decline of 63% from the average session volume of 153,077 shares. The stock had previously closed at $0.23.

Forza X1 Stock Performance

The company has a quick ratio of 14.16, a current ratio of 14.62 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.45 million, a PE ratio of -0.55 and a beta of 2.12. The business has a 50 day simple moving average of $0.25 and a 200 day simple moving average of $0.32.

Forza X1 (NASDAQ:FRZA) last released its earnings results on Wednesday, August 14th. The company reported ($0.07) EPS for the quarter.

Insider Buying and Selling

In other news, Director Kevin Schuyler acquired 90,668 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of $0.30 per share, with a total value of $27,200.40. Following the completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $30,000. This trade represents a 900.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought 199,048 shares of company stock worth $56,366 in the last 90 days. Insiders own 31.84% of the company’s stock.

Forza X1 Company Profile

Forza X1, Inc focuses on designing, developing, and manufacturing electric boats in the United States. It intends to offer its products through a vertically integrated direct-to-consumer system. Forza X1, Inc was incorporated in 2021 and is headquartered in Fort Pierce, Florida.