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

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

Forward Industries Stock Performance

FORD stock opened at $7.37 on Wednesday. Forward Industries has a 1-year low of $3.10 and a 1-year high of $8.29. The business has a 50 day simple moving average of $4.88 and a two-hundred day simple moving average of $4.81.

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. Forward Industries had a negative net margin of 7.77% and a negative return on equity of 227.10%. The firm had revenue of $6.62 million for the quarter.

Institutional Trading of Forward Industries

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC bought a new stake in shares of Forward Industries, Inc. (NASDAQ:FORD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,705 shares of the textile maker’s stock, valued at approximately $53,000. Citadel Advisors LLC owned about 0.97% of Forward Industries as of its most recent filing with the Securities and Exchange Commission.

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.