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

StockNews.com initiated coverage on shares of Forward Industries (NASDAQ:FORD) in a research note released on Friday. The firm issued a hold rating on the textile maker’s stock.

Forward Industries Trading Up 1.9 %

Shares of Forward Industries stock opened at $3.79 on Friday. The firm’s 50-day moving average is $5.22 and its 200 day moving average is $4.46. Forward Industries has a 1 year low of $3.10 and a 1 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) earnings per share (EPS) for the quarter. The business had revenue of $6.62 million for 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 acquired a new stake in shares of Forward Industries, Inc. (NASDAQ:FORD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.

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.