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

Stock analysts at StockNews.com started coverage on shares of Forward Industries (NASDAQ:FORD) in a report released on Thursday. The brokerage set a “hold” rating on the textile maker’s stock.

Forward Industries Stock Down 1.0 %

NASDAQ FORD opened at $7.86 on Thursday. Forward Industries has a one year low of $3.10 and a one year high of $8.97. The company has a 50-day simple moving average of $5.21 and a 200-day simple moving average of $4.96.

Forward Industries (NASDAQ:FORD) last issued its earnings results on Thursday, February 13th. The textile maker reported ($0.64) EPS for the quarter. The company 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%.

Hedge Funds Weigh In On Forward Industries

An institutional investor recently bought a new position in Forward Industries stock. Citadel Advisors LLC bought a new stake in shares of Forward Industries, Inc. (NASDAQ:FORD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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 SEC filing.

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.