Forward Industries (NASDAQ:FORD) Earns Hold Rating from Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Forward Industries (NASDAQ:FORD) in a research report issued on Friday. The firm set a “hold” rating on the textile maker’s stock.

Forward Industries Stock Up 0.8 %

Shares of FORD stock opened at $3.72 on Friday. Forward Industries has a 12-month low of $3.10 and a 12-month high of $8.29. The stock’s 50-day moving average price is $5.26 and its 200-day moving average price is $4.46.

Forward Industries (NASDAQ:FORD) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported ($0.64) earnings per share for the quarter. The firm had revenue of $6.62 million for the quarter. Forward Industries had a negative net margin of 7.77% and a negative return on equity of 227.10%.

Institutional Investors Weigh In On Forward Industries

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC bought a new position in Forward Industries, Inc. (NASDAQ:FORD) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 10,705 shares of the textile maker’s stock, valued at approximately $53,000. Citadel Advisors LLC owned about 0.97% of Forward Industries as of its most recent SEC filing.

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.