Short Interest in Forward Industries, Inc. (NASDAQ:FORD) Declines By 5.7%

Forward Industries, Inc. (NASDAQ:FORD) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 131,800 shares, a drop of 5.7% from the March 31st total of 139,800 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 27,500 shares, the days-to-cover ratio is presently 4.8 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Forward Industries in a report on Wednesday, April 24th. They set a “hold” rating for the company.

Forward Industries Stock Performance

NASDAQ FORD traded down $0.02 during trading on Tuesday, hitting $0.53. 5,498 shares of the stock traded hands, compared to its average volume of 27,189. The firm has a 50-day simple moving average of $0.59 and a 200-day simple moving average of $0.68. Forward Industries has a 12-month low of $0.46 and a 12-month high of $1.10.

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

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.