StockNews.com Initiates Coverage on Forward Industries (NASDAQ:FORD)

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

Forward Industries Price Performance

NASDAQ:FORD opened at $3.61 on Thursday. Forward Industries has a one year low of $3.10 and a one year high of $8.29. The company’s 50-day simple moving average is $5.39 and its 200 day simple moving average is $4.47.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Forward Industries stock. Citadel Advisors LLC acquired a new stake in shares of Forward Industries, Inc. (NASDAQ:FORD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 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 SEC filing.

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.