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

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

Forward Industries Price Performance

Shares of FORD opened at $0.50 on Tuesday. The firm has a 50-day moving average of $0.62 and a 200-day moving average of $0.69. Forward Industries has a one year low of $0.46 and a one year high of $1.12.

Forward Industries (NASDAQ:FORD) last announced its quarterly earnings data on Wednesday, February 14th. The textile maker reported ($0.04) EPS for the quarter. The firm had revenue of $7.15 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Forward Industries stock. Renaissance Technologies LLC lifted its stake in shares of Forward Industries, Inc. (NASDAQ:FORD) by 3.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 559,340 shares of the textile maker’s stock after buying an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned about 5.56% of Forward Industries worth $624,000 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.