Short Interest in Forward Industries, Inc. (NASDAQ:FORD) Declines By 89.3%

Forward Industries, Inc. (NASDAQ:FORD) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 12,100 shares, a drop of 89.3% from the May 31st total of 112,600 shares. Based on an average trading volume of 7,200 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.7% of the company’s shares are short sold.

Forward Industries Trading Up 13.3 %

Shares of NASDAQ:FORD traded up $0.56 during midday trading on Friday, reaching $4.76. 31,924 shares of the company were exchanged, compared to its average volume of 8,891. Forward Industries has a fifty-two week low of $3.65 and a fifty-two week high of $9.74. The stock has a fifty day simple moving average of $4.96 and a two-hundred day simple moving average of $6.05.

Forward Industries (NASDAQ:FORD) last released its earnings results on Friday, May 10th. The textile maker reported ($0.50) earnings per share (EPS) for the quarter. The business had revenue of $7.83 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Forward Industries in a research report on Thursday. They set a “hold” rating for the company.

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.