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

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

Forward Industries Price Performance

FORD stock opened at $1.26 on Tuesday. The business’s fifty day moving average price is $1.29 and its 200 day moving average price is $1.47. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 0.21. Forward Industries has a 12-month low of $1.06 and a 12-month high of $2.02. The company has a market capitalization of $12.68 million, a PE ratio of -18.00 and a beta of 0.82.

Hedge Funds Weigh In On Forward Industries

A hedge fund recently raised its stake in Forward Industries stock. Renaissance Technologies LLC lifted its holdings in shares of Forward Industries, Inc. (NASDAQ:FORD – Get Rating) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 602,440 shares of the textile maker’s stock after buying an additional 8,800 shares during the period. Renaissance Technologies LLC owned about 5.99% of Forward Industries worth $886,000 at the end of the most recent reporting period. 19.66% of the stock is currently owned by institutional investors.

About Forward Industries

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Forward Industries, Inc, together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for handheld electronic devices. The company operates in three segments: OEM Distribution, Retail Distribution, and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, GPS devices, tablets, and firearms.