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

StockNews.com assumed coverage on shares of Forward Industries (NASDAQ:FORD) in a research report released on Tuesday morning. The firm issued a hold rating on the textile maker’s stock.

Forward Industries Stock Performance

Shares of FORD opened at $0.50 on Tuesday. The company has a 50-day moving average of $0.62 and a two-hundred day moving average of $0.69. Forward Industries has a one year low of $0.46 and a one year high of $1.10.

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

Institutional Investors Weigh In On Forward Industries

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