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

StockNews.com started coverage on shares of Forward Industries (NASDAQ:FORDFree Report) in a research report sent to investors on Saturday morning. The brokerage issued a hold rating on the textile maker’s stock.

Forward Industries Price Performance

Shares of FORD stock opened at $0.61 on Friday. The company’s fifty day simple moving average is $0.68 and its 200-day simple moving average is $0.72. 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 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.

Hedge Funds Weigh In On Forward Industries

A hedge fund recently raised its stake in Forward Industries stock. Renaissance Technologies LLC grew its stake in Forward Industries, Inc. (NASDAQ:FORDFree Report) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 602,440 shares of the textile maker’s stock after purchasing an additional 8,800 shares during the quarter. Renaissance Technologies LLC owned approximately 5.99% of Forward Industries worth $886,000 as of its most recent filing with the SEC. 13.95% of the stock is owned by institutional investors and hedge funds.

About Forward Industries

(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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