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

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

Forward Industries Stock Performance

Shares of NASDAQ:FORD opened at $0.57 on Friday. The stock’s fifty day simple moving average is $0.66 and its two-hundred day simple moving average is $0.71. Forward Industries has a 1-year low of $0.46 and a 1-year high of $1.21.

Forward Industries (NASDAQ:FORD) last issued its quarterly earnings data on Wednesday, February 14th. The textile maker reported ($0.04) earnings per share for the quarter. The business had revenue of $7.15 million during the quarter.

Institutional Investors Weigh In On Forward Industries

An institutional investor recently raised its position in Forward Industries stock. Renaissance Technologies LLC lifted its holdings in shares of Forward Industries, Inc. (NASDAQ:FORD) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 559,340 shares of the textile maker’s stock after purchasing an additional 18,200 shares during the period. Renaissance Technologies LLC owned about 5.56% of Forward Industries worth $624,000 at the end of the most recent reporting period.

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.