Forward Industries (NASDAQ:FORD) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Forward Industries, Inc. (NASDAQ:FORD)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.47 and traded as high as $4.59. Forward Industries shares last traded at $4.03, with a volume of 42,824 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Forward Industries in a research note on Saturday. They set a “hold” rating on the stock.

Forward Industries Stock Performance

The business has a 50 day moving average price of $5.08 and a 200-day moving average price of $4.47.

Forward Industries (NASDAQ:FORD) last announced its quarterly earnings data on Thursday, February 13th. The textile maker reported ($0.64) earnings per share for the quarter. Forward Industries had a negative return on equity of 227.10% and a negative net margin of 7.77%. The business had revenue of $6.62 million for the quarter.

Hedge Funds Weigh In On Forward Industries

An institutional investor recently bought a new position in Forward Industries stock. Citadel Advisors LLC bought a new position in shares of Forward Industries, Inc. (NASDAQ:FORD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,705 shares of the textile maker’s stock, valued at approximately $53,000. Citadel Advisors LLC owned 0.97% of Forward Industries at the end of the most recent quarter.

Forward Industries Company Profile

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.