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

Equities researchers at StockNews.com began coverage on shares of Forward Industries (NASDAQ:FORD) in a research note issued on Tuesday. The brokerage set a “hold” rating on the textile maker’s stock.

Forward Industries Stock Up 0.4 %

Shares of FORD opened at $5.76 on Tuesday. The stock’s 50-day moving average price is $4.72 and its two-hundred day moving average price is $4.67. Forward Industries has a 12 month low of $3.10 and a 12 month high of $8.29.

Forward Industries (NASDAQ:FORD) last issued its quarterly earnings data on Thursday, February 13th. The textile maker reported ($0.64) earnings per share (EPS) for the quarter. Forward Industries had a negative return on equity of 227.10% and a negative net margin of 7.77%. The company had revenue of $6.62 million for the quarter.

Hedge Funds 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) during the fourth quarter, according to its most recent Form 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 0.97% of Forward Industries 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.