Forward Industries (NASDAQ:FORD) Coverage Initiated by Analysts at StockNews.com

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

Forward Industries Stock Down 1.2 %

NASDAQ:FORD opened at $0.60 on Friday. The company has a 50 day simple moving average of $0.67 and a two-hundred day simple moving average of $0.72. Forward Industries has a 12 month low of $0.46 and a 12 month high of $1.21.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Forward Industries stock. Renaissance Technologies LLC increased its stake in Forward Industries, Inc. (NASDAQ:FORD) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 559,340 shares of the textile maker’s stock after purchasing an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned approximately 5.56% of Forward Industries worth $624,000 at the end of the most recent quarter.

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.