Forward Industries, Inc. (NASDAQ:FORD) Sees Significant Growth in Short Interest

Forward Industries, Inc. (NASDAQ:FORD) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 139,800 shares, a growth of 33.8% from the March 15th total of 104,500 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily trading volume, of 29,400 shares, the days-to-cover ratio is currently 4.8 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Forward Industries stock. Renaissance Technologies LLC grew its holdings in shares of Forward Industries, Inc. (NASDAQ:FORD) by 3.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 559,340 shares of the textile maker’s stock after buying an additional 18,200 shares during the period. Renaissance Technologies LLC owned 5.56% of Forward Industries worth $624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Forward Industries Price Performance

FORD opened at $0.53 on Friday. Forward Industries has a 12 month low of $0.46 and a 12 month high of $1.21. The business has a fifty day moving average price of $0.63 and a 200 day moving average price of $0.70.

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

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Forward Industries in a research note on Monday, April 8th. They issued a “hold” rating for the company.

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.