StockNews.com Initiates Coverage on Forward Industries (NASDAQ:FORD)

StockNews.com started coverage on shares of Forward Industries (NASDAQ:FORD) in a research note issued on Wednesday. The brokerage set a “hold” rating on the textile maker’s stock.

Forward Industries Stock Down 6.3 %

Shares of NASDAQ:FORD traded down $0.27 during midday trading on Wednesday, reaching $4.00. 18,247 shares of the company’s stock were exchanged, compared to its average volume of 128,051. Forward Industries has a fifty-two week low of $3.10 and a fifty-two week high of $8.29. The firm’s 50 day simple moving average is $3.71 and its two-hundred day simple moving average is $4.19.

Forward Industries (NASDAQ:FORD) last announced its quarterly earnings results on Wednesday, August 14th. The textile maker reported ($0.34) earnings per share for the quarter. Forward Industries had a negative net margin of 10.22% and a negative return on equity of 52.85%. The company had revenue of $7.89 million for the quarter.

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.