Cetus Capital VI sold 272,163 shares of FWRD across 6 transactions (Nov 6–12) at $21.55–$22.39, weeks after buying 225,000 shares at $17.89–$18.86 in October.
Cetus Capital VI purchased 225,000 shares (225.0K shares) for $4,034,950.00 on October 20, then liquidated 272,163 shares across six separate sales from November 6–12 for $5,940,112.09. The sales occurred at prices ranging from $21.55 to $22.39, representing a 20–25% gain above the October purchase prices of $17.89–$18.86. The net effect reduced the firm's holdings from 3,163,709 shares to 3,116,546 shares, a decrease of 47,163 shares (-1.5% vs pre-transaction holdings). Against the current price of $27.24, which is 15.6% below the 52-week high, the timing of these mid-November sales leaves potential upside unrealized given the stock subsequently recovered above the sale prices. The underlying company remains unprofitable despite 80.5% annual revenue growth, which may factor into the firm's two-week liquidation pattern.