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

StockNews.com began coverage on shares of Forward Industries (NASDAQ:FORD) in a research report report published on Sunday morning. The firm issued a hold rating on the textile maker’s stock.

Forward Industries Stock Performance

FORD opened at $6.80 on Friday. Forward Industries has a fifty-two week low of $3.10 and a fifty-two week high of $8.29. The firm has a 50-day moving average of $4.95 and a 200 day moving average of $4.52.

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

Institutional Inflows and Outflows

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

Forward Industries Company Profile

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.