Forward Industries (NASDAQ:FORD) Now Covered by StockNews.com

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

Forward Industries Stock Down 7.8 %

Shares of Forward Industries stock opened at $3.45 on Thursday. The business’s 50 day simple moving average is $5.46 and its two-hundred day simple moving average is $4.47. Forward Industries has a one year low of $3.10 and a one year 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 return on equity of 227.10% and a negative net margin of 7.77%.

Hedge Funds Weigh In On Forward Industries

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC acquired a new position in Forward Industries, Inc. (NASDAQ:FORD) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 10,705 shares of the textile maker’s stock, valued at approximately $53,000. Citadel Advisors LLC owned about 0.97% of Forward Industries as of its most recent filing with the SEC.

About Forward Industries

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.