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

Equities research analysts at StockNews.com started coverage on shares of Forward Industries (NASDAQ:FORD – Get Rating) in a research note issued on Wednesday. The firm set a “hold” rating on the textile maker’s stock.

Forward Industries Stock Performance

Shares of Forward Industries stock opened at $1.02 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.28 and a debt-to-equity ratio of 0.26. Forward Industries has a twelve month low of $0.95 and a twelve month high of $1.87. The stock has a market cap of $10.26 million, a price-to-earnings ratio of -4.08 and a beta of 0.51. The company’s fifty day moving average is $1.05 and its 200 day moving average is $1.15.

Institutional Trading of Forward Industries

An institutional investor recently raised its position in Forward Industries stock. Renaissance Technologies LLC raised its position in shares of Forward Industries, Inc. (NASDAQ:FORD – Get Rating) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 559,340 shares of the textile maker’s stock after acquiring an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned about 5.56% of Forward Industries worth $624,000 as of its most recent SEC filing. 19.12% of the stock is owned by hedge funds and other institutional investors.

Forward Industries Company Profile

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Forward Industries, Inc engages in the provision of integrated design, development, and manufacturing solutions for top tier medical and technology customers worldwide. It operates through the following 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 a variety of other portable electronic and non-electronic devices.