Short Interest in Forward Industries, Inc. (NASDAQ:FORD) Declines By 9.5%

Forward Industries, Inc. (NASDAQ:FORDGet Rating) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 122,400 shares, a drop of 9.5% from the August 15th total of 135,200 shares. Based on an average daily volume of 28,900 shares, the days-to-cover ratio is presently 4.2 days. Currently, 2.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Forward Industries

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in Forward Industries by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 602,440 shares of the textile maker’s stock worth $886,000 after acquiring an additional 8,800 shares during the last quarter. Grassi Investment Management boosted its holdings in Forward Industries by 9.3% during the 1st quarter. Grassi Investment Management now owns 497,400 shares of the textile maker’s stock worth $8,411,000 after acquiring an additional 42,400 shares during the last quarter. Finally, GMT Capital Corp purchased a new position in Forward Industries during the 2nd quarter worth $135,000. 19.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Forward Industries in a research report on Sunday. They issued a “hold” rating for the company. TheStreet downgraded shares of Forward Industries from a “c-” rating to a “d+” rating in a research report on Tuesday, June 7th.

Forward Industries Price Performance

FORD opened at $1.34 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.45 and a quick ratio of 1.02. The company has a market capitalization of $13.48 million, a price-to-earnings ratio of -19.14 and a beta of 0.81. The firm’s fifty day moving average price is $1.62 and its two-hundred day moving average price is $1.59. Forward Industries has a 1 year low of $1.06 and a 1 year high of $2.68.

Forward Industries Company Profile

(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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