Forward Industries (NASDAQ:FORD) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Forward Industries (NASDAQ:FORD) in a research report sent to investors on Saturday morning. The brokerage issued a hold rating on the textile maker’s stock.

Forward Industries Stock Up 3.0 %

Shares of FORD stock opened at $4.15 on Friday. Forward Industries has a fifty-two week low of $3.10 and a fifty-two week high of $8.29. The firm’s 50 day moving average price is $5.05 and its two-hundred day moving average price is $4.48.

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. Forward Industries had a negative net margin of 7.77% and a negative return on equity of 227.10%. The business had revenue of $6.62 million for the quarter.

Institutional Investors Weigh In On Forward Industries

An institutional investor recently bought a new position in Forward Industries stock. Citadel Advisors LLC acquired a new stake in Forward Industries, Inc. (NASDAQ:FORD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,705 shares of the textile maker’s stock, valued at approximately $53,000. Citadel Advisors LLC owned approximately 0.97% of Forward Industries as of its most recent SEC filing.

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.