Forward Industries, Inc. (NASDAQ:FORD) Short Interest Up 66.1% in March

Forward Industries, Inc. (NASDAQ:FORD) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 42,700 shares, an increase of 66.1% from the March 15th total of 25,700 shares. Approximately 4.7% of the shares of the company are short sold. Based on an average daily volume of 33,300 shares, the days-to-cover ratio is presently 1.3 days.

Forward Industries Trading Up 0.6 %

Shares of NASDAQ:FORD opened at $5.54 on Friday. Forward Industries has a 1 year low of $3.10 and a 1 year high of $8.29. The business’s 50 day moving average price is $4.74 and its 200-day moving average price is $4.64.

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

Institutional Investors Weigh In On Forward Industries

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

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Forward Industries in a research report on Monday, April 14th. They set a “hold” rating for the company.

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.