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

StockNews.com initiated coverage on shares of Forward Industries (NASDAQ:FORDGet Free Report) in a note issued to investors on Friday. The brokerage set a “hold” rating on the textile maker’s stock.

Forward Industries Stock Down 27.0 %

NASDAQ:FORD opened at $0.46 on Friday. The stock’s 50-day simple moving average is $0.69 and its 200 day simple moving average is $0.73. Forward Industries has a 52-week low of $0.46 and a 52-week high of $1.21.

Forward Industries (NASDAQ:FORDGet Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The textile maker reported ($0.04) earnings per share (EPS) for the quarter. Forward Industries had a negative net margin of 6.33% and a negative return on equity of 45.90%. The company had revenue of $7.15 million during the quarter.

Institutional Trading of Forward Industries

An institutional investor recently raised its position in Forward Industries stock. Renaissance Technologies LLC lifted its stake in shares of Forward Industries, Inc. (NASDAQ:FORDFree Report) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,340 shares of the textile maker’s stock after purchasing an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned about 5.56% of Forward Industries worth $624,000 at the end of the most recent reporting period. 13.95% of the stock is owned by hedge funds and other institutional investors.

Forward Industries Company Profile

(Get Free Report)

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.

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