Forward Industries (NASDAQ:FORD) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Forward Industries (NASDAQ:FORD) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the textile maker’s stock.

Forward Industries Stock Down 3.3 %

Shares of NASDAQ FORD opened at $0.56 on Monday. Forward Industries has a twelve month low of $0.46 and a twelve month high of $1.21. The stock has a fifty day simple moving average of $0.65 and a 200-day simple moving average of $0.70.

Forward Industries (NASDAQ:FORD) last released its earnings results 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 grew its holdings in Forward Industries, Inc. (NASDAQ:FORD) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 559,340 shares of the textile maker’s stock after acquiring an additional 18,200 shares during the period. Renaissance Technologies LLC owned about 5.56% of Forward Industries worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

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.