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

Stock analysts at StockNews.com started coverage on shares of Forward Industries (NASDAQ:FORD) in a report released on Monday. The brokerage set a “hold” rating on the textile maker’s stock.

Forward Industries Stock Performance

NASDAQ FORD opened at $5.40 on Monday. Forward Industries has a 1 year low of $3.10 and a 1 year high of $8.29. The stock’s 50-day moving average price is $5.43 and its two-hundred day moving average price is $4.38.

Forward Industries (NASDAQ:FORD) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported ($0.64) earnings per share (EPS) for the quarter. Forward Industries had a negative net margin of 6.46% and a negative return on equity of 124.85%. The firm had revenue of $6.62 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC acquired a new position in shares of Forward Industries, Inc. (NASDAQ:FORD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

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.