Forward Industries (NASDAQ:FORD) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Forward Industries (NASDAQ:FORD) in a research report sent to investors on Monday. The brokerage issued a hold rating on the textile maker’s stock.

Forward Industries Stock Performance

Shares of NASDAQ:FORD opened at $5.34 on Monday. Forward Industries has a 52-week low of $3.10 and a 52-week high of $8.29. The stock’s fifty day simple moving average is $5.47 and its 200-day simple moving average is $4.39.

Forward Industries (NASDAQ:FORD) last released its earnings results on Thursday, February 13th. The textile maker reported ($0.64) earnings per share (EPS) for the quarter. The firm 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 bought a new position in shares of Forward Industries, Inc. (NASDAQ:FORD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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.