StockNews.com started coverage on shares of Forward Industries (NASDAQ:FORD – Get Rating) in a research note issued to investors on Monday. The brokerage issued a hold rating on the textile maker’s stock.
Forward Industries Stock Performance
FORD opened at $1.25 on Monday. The stock has a market capitalization of $12.58 million, a price-to-earnings ratio of -17.85 and a beta of 0.82. The company has a fifty day moving average of $1.30 and a 200 day moving average of $1.47. Forward Industries has a fifty-two week low of $1.06 and a fifty-two week high of $2.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.02 and a current ratio of 1.45.
Hedge Funds Weigh In On Forward Industries
A hedge fund recently raised its stake in Forward Industries stock. Renaissance Technologies LLC grew its holdings in Forward Industries, Inc. (NASDAQ:FORD – Get Rating) by 1.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 602,440 shares of the textile maker’s stock after buying an additional 8,800 shares during the period. Renaissance Technologies LLC owned approximately 5.99% of Forward Industries worth $886,000 as of its most recent filing with the Securities & Exchange Commission. 19.66% of the stock is currently owned by institutional investors.
About Forward Industries
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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