TheStreet Downgrades Forward Industries (NASDAQ:FORD) to D+

Forward Industries (NASDAQ:FORDGet Rating) was downgraded by analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued on Tuesday, TheStreetRatingsTable reports.

Separately, started coverage on shares of Forward Industries in a report on Monday. They issued a “hold” rating on the stock.

FORD opened at $1.57 on Tuesday. Forward Industries has a 52-week low of $1.06 and a 52-week high of $3.68. The company has a market cap of $15.84 million, a P/E ratio of -157.42 and a beta of 0.80. The firm’s 50-day moving average price is $1.61 and its 200-day moving average price is $1.63.

Forward Industries (NASDAQ:FORDGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The textile maker reported ($0.04) earnings per share (EPS) for the quarter. Forward Industries had a negative net margin of 0.04% and a negative return on equity of 0.21%. The company had revenue of $10.32 million for the quarter.

An institutional investor recently bought a new position in Forward Industries stock. Citadel Advisors LLC acquired a new stake in Forward Industries, Inc. (NASDAQ:FORDGet Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 15,931 shares of the textile maker’s stock, valued at approximately $47,000. Citadel Advisors LLC owned 0.16% of Forward Industries as of its most recent filing with the Securities and Exchange Commission. 18.88% of the stock is currently owned by institutional investors and hedge funds.

About Forward Industries (Get Rating)

Forward Industries, Inc, together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for handheld electronic devices. The company operates in three segments: OEM Distribution, Retail Distribution, and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, GPS devices, tablets, and firearms.

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