Forward Industries (NASDAQ:FORD) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of Forward Industries (NASDAQ:FORD) in a note issued to investors on Friday. The brokerage set a “hold” rating on the textile maker’s stock.

Forward Industries Trading Up 1.9 %

Shares of NASDAQ:FORD opened at $3.79 on Friday. The company’s 50-day moving average price is $5.22 and its 200 day moving average price is $4.46. Forward Industries has a fifty-two week low of $3.10 and a fifty-two week high of $8.29.

Forward Industries (NASDAQ:FORD) last issued its quarterly earnings data on Thursday, February 13th. The textile maker reported ($0.64) earnings per share for the quarter. The firm had revenue of $6.62 million during the quarter. Forward Industries had a negative net margin of 7.77% and a negative return on equity of 227.10%.

Institutional Trading of Forward Industries

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC purchased a new position in shares of Forward Industries, Inc. (NASDAQ:FORD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,705 shares of the textile maker’s stock, valued at approximately $53,000. Citadel Advisors LLC owned approximately 0.97% of Forward Industries at the end of the most recent quarter.

About Forward Industries

Forward Industries, Inc, together with its subsidiaries, designs, manufactures, sources, markets, and distributes carry and protective solutions. The company operates in two segments: OEM Distribution and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, GPS location devices, tablets, and firearms.