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

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

Forward Industries Stock Performance

Shares of FORD stock opened at $4.03 on Friday. The firm has a fifty day moving average of $5.08 and a 200-day moving average of $4.47. Forward Industries has a 52-week low of $3.10 and a 52-week high of $8.29.

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

Institutional Inflows and Outflows

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

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.