Forward Industries (NASDAQ:FORD) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Forward Industries (NASDAQ:FORD) in a research report sent to investors on Saturday. The firm issued a hold rating on the textile maker’s stock.

Forward Industries Stock Down 7.1 %

Shares of Forward Industries stock opened at $4.03 on Friday. Forward Industries has a 12-month low of $3.10 and a 12-month high of $8.29. The stock’s fifty day moving average is $5.08 and its 200-day moving average is $4.47.

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

Institutional Investors Weigh In On 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 the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 reporting period.

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.