Forward Industries (NASDAQ:FORD) Shares Pass Above 200 Day Moving Average – Here’s Why

Forward Industries, Inc. (NASDAQ:FORD) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

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

Forward Industries Stock Performance

The firm’s 50 day simple moving average is $5.08 and its 200 day simple moving average is $4.47.

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

Institutional Trading of Forward Industries

A hedge fund recently bought a new stake in Forward Industries stock. Citadel Advisors LLC purchased a new stake in Forward Industries, Inc. (NASDAQ:FORD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,705 shares of the textile maker’s stock, valued at approximately $53,000. Citadel Advisors LLC owned approximately 0.97% of Forward Industries as of its most recent SEC filing.

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.