Forward Industries (NASDAQ:FORD) Share Price Passes Below 200 Day Moving Average of $1.38

Forward Industries, Inc. (NASDAQ:FORD)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.38 and traded as low as $1.10. Forward Industries shares last traded at $1.11, with a volume of 3,946 shares traded.

A number of brokerages recently issued reports on FORD. ValuEngine lowered shares of Forward Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. TheStreet lowered shares of Forward Industries from a “c” rating to a “d” rating in a research note on Tuesday, June 18th.

The firm’s 50-day moving average price is $1.12 and its 200 day moving average price is $1.38. The company has a current ratio of 1.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01.

Forward Industries (NASDAQ:FORD) last posted its quarterly earnings data on Wednesday, May 15th. The textile maker reported ($0.12) earnings per share for the quarter. The company had revenue of $8.17 million during the quarter. Forward Industries had a negative return on equity of 16.95% and a negative net margin of 3.41%.

A hedge fund recently bought a new stake in Forward Industries stock. Grassi Investment Management acquired a new position in Forward Industries, Inc. (NASDAQ:FORD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 881,265 shares of the textile maker’s stock, valued at approximately $9,015,000. Grassi Investment Management owned 9.24% of Forward Industries as of its most recent SEC filing. 23.72% of the stock is owned by institutional investors and hedge funds.

About Forward Industries (NASDAQ:FORD)

Forward Industries, Inc, together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for hand held electronic devices. It provides carrying cases and other accessories for medical monitoring and diagnostic kits; and other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, smartphones, GPS location devices, tablets, firearms, and other products.

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