Forward Industries (NASDAQ:FORD) Share Price Crosses Below Two Hundred Day Moving Average of $1.27

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Forward Industries, Inc. (NASDAQ:FORD)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.27 and traded as low as $0.98. Forward Industries shares last traded at $0.98, with a volume of 3,325 shares changing hands.

A number of analysts recently issued reports on the company. ValuEngine downgraded Forward Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. TheStreet downgraded Forward Industries from a “c” rating to a “d” rating in a research report on Tuesday, June 18th.

The business has a 50-day moving average of $1.10 and a 200-day moving average of $1.27.

Forward Industries (NASDAQ:FORD) last released its earnings results on Wednesday, August 14th. The textile maker reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $9.91 million during the quarter. Forward Industries had a negative net margin of 4.27% and a negative return on equity of 15.86%.

An institutional investor recently bought a new position in Forward Industries stock. Grassi Investment Management purchased a new position in shares of Forward Industries, Inc. (NASDAQ:FORD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 881,265 shares of the textile maker’s stock, valued at approximately $9,015,000. Grassi Investment Management owned about 9.24% of Forward Industries as of its most recent SEC filing. 22.92% of the stock is currently owned by hedge funds and other institutional investors.

Forward Industries Company Profile (NASDAQ:FORD)

Forward Industries, Inc, together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for hand held electronic devices. It provides carrying cases and other accessories for medical monitoring and diagnostic kits; and other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, smartphones, GPS location devices, tablets, firearms, and other products.

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