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

StockNews.com assumed coverage on shares of Forward Industries (NASDAQ:FORD – Get Rating) in a research report released on Wednesday morning. The firm issued a hold rating on the textile maker’s stock.

NASDAQ FORD opened at $1.63 on Wednesday. The stock has a 50 day simple moving average of $1.66 and a two-hundred day simple moving average of $1.75. Forward Industries has a fifty-two week low of $1.40 and a fifty-two week high of $3.68.

Forward Industries (NASDAQ:FORD – Get Rating) last posted its quarterly earnings data on Thursday, February 10th. The textile maker reported $0.02 earnings per share for the quarter. The company had revenue of $11.61 million during the quarter. Forward Industries had a negative return on equity of 6.66% and a negative net margin of 1.21%.

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC acquired a new stake in Forward Industries, Inc. (NASDAQ:FORD – Get Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,931 shares of the textile maker’s stock, valued at approximately $47,000. Citadel Advisors LLC owned approximately 0.16% of Forward Industries as of its most recent SEC filing. Institutional investors and hedge funds own 19.65% of the company’s stock.

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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