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

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

Forward Industries Price Performance

FORD opened at $5.48 on Monday. The stock’s 50-day moving average price is $4.79 and its 200 day moving average price is $4.61. Forward Industries has a 12-month low of $3.10 and a 12-month high of $8.29.

Forward Industries (NASDAQ:FORD) last posted its quarterly earnings data on Thursday, February 13th. The textile maker reported ($0.64) earnings per share 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.

Institutional Investors Weigh In On Forward Industries

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

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.