Forward Industries (NASDAQ:FORD) Now Covered by StockNews.com

StockNews.com started coverage on shares of Forward Industries (NASDAQ:FORD) in a report published on Tuesday. The brokerage issued a hold rating on the textile maker’s stock.

Forward Industries Stock Down 7.2 %

FORD stock opened at $0.50 on Tuesday. Forward Industries has a 12 month low of $0.46 and a 12 month high of $1.10. The company has a 50-day moving average price of $0.61 and a 200 day moving average price of $0.69.

Forward Industries (NASDAQ:FORD) last released its quarterly earnings results on Wednesday, February 14th. The textile maker reported ($0.04) EPS for the quarter. The company had revenue of $7.15 million for the quarter.

Institutional Investors Weigh In On Forward Industries

A hedge fund recently raised its stake in Forward Industries stock. Renaissance Technologies LLC boosted its stake in shares of Forward Industries, Inc. (NASDAQ:FORD) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602,440 shares of the textile maker’s stock after buying 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 SEC filing.

About Forward Industries

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.