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 note issued to investors on Tuesday. The firm set a “hold” rating on the textile maker’s stock.

Forward Industries Stock Up 2.1 %

Forward Industries stock opened at $5.05 on Tuesday. The firm’s fifty day moving average price is $5.52 and its two-hundred day moving average price is $4.42. Forward Industries has a 1-year low of $3.10 and a 1-year high of $8.29.

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

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC purchased a new stake in shares of Forward Industries, Inc. (NASDAQ:FORD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,705 shares of the textile maker’s stock, valued at approximately $53,000. Citadel Advisors LLC owned about 0.97% of Forward Industries at the end of the most recent quarter.

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.