Forward Industries (NASDAQ:FORD) Now Covered by Analysts at StockNews.com

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

Forward Industries Stock Down 7.1 %

NASDAQ:FORD opened at $4.03 on Friday. Forward Industries has a twelve month low of $3.10 and a twelve month high of $8.29. The stock’s 50 day moving average price is $5.08 and its two-hundred day moving average price is $4.47.

Forward Industries (NASDAQ:FORD) last released its quarterly earnings data on Thursday, February 13th. The textile maker reported ($0.64) earnings per share (EPS) for the quarter. The business 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%.

Institutional Investors Weigh In On Forward Industries

An institutional investor recently bought a new position in Forward Industries stock. Citadel Advisors LLC acquired a new position in shares of Forward Industries, Inc. (NASDAQ:FORD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 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.