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

StockNews.com began coverage on shares of Forward Industries (NASDAQ:FORD) in a research note released on Tuesday. The firm issued a hold rating on the textile maker’s stock.

Forward Industries Price Performance

Shares of NASDAQ FORD opened at $0.50 on Tuesday. Forward Industries has a 1 year low of $0.46 and a 1 year high of $1.10. The firm’s 50-day moving average is $0.62 and its 200-day moving average is $0.69.

Forward Industries (NASDAQ:FORD) last announced its quarterly earnings data on Wednesday, February 14th. The textile maker reported ($0.04) earnings per share 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 raised its stake in Forward Industries, Inc. (NASDAQ:FORD) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 559,340 shares of the textile maker’s stock after buying an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned 5.56% of Forward Industries worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

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.