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

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

Forward Industries Price Performance

Forward Industries stock opened at $5.05 on Tuesday. The firm has a 50 day moving average price of $5.52 and a 200-day moving average price of $4.42. Forward Industries has a twelve month low of $3.10 and a twelve month high of $8.29.

Forward Industries (NASDAQ:FORD) last announced its quarterly earnings data on Thursday, February 13th. The textile maker reported ($0.64) earnings per share for the quarter. The firm had revenue of $6.62 million for 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

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC bought a new position in shares of Forward Industries, Inc. (NASDAQ:FORD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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.