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

StockNews.com began coverage on shares of Forward Industries (NASDAQ:FORD) in a research note published on Tuesday morning. The brokerage issued a hold rating on the textile maker’s stock.

Forward Industries Stock Down 2.1 %

FORD opened at $4.90 on Tuesday. The firm’s 50-day simple moving average is $5.52 and its 200-day simple moving average is $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 posted its quarterly earnings data on Thursday, February 13th. The textile maker reported ($0.64) earnings per share for the quarter. Forward Industries had a negative return on equity of 227.10% and a negative net margin of 7.77%. The firm had revenue of $6.62 million for the quarter.

Institutional Trading of Forward Industries

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC acquired a new position in Forward Industries, Inc. (NASDAQ:FORD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 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 reporting period.

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.