Forward Industries (NASDAQ:FORD) Shares Up 7.3%

Forward Industries, Inc. (NASDAQ:FORD)’s share price shot up 7.3% during trading on Thursday . The stock traded as high as $1.35 and last traded at $1.06, 409,295 shares changed hands during trading. An increase of 1,570% from the average session volume of 24,503 shares. The stock had previously closed at $0.99.

Separately, ValuEngine lowered Forward Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st.

The company has a 50 day simple moving average of $1.08 and a 200-day simple moving average of $1.23.

Forward Industries (NASDAQ:FORD) last issued its quarterly earnings results on Wednesday, August 14th. The textile maker reported ($0.01) earnings per share (EPS) for the quarter. Forward Industries had a negative return on equity of 15.86% and a negative net margin of 4.27%. The firm had revenue of $9.91 million for the quarter.

An institutional investor recently raised its position in Forward Industries stock. Grassi Investment Management increased its stake in Forward Industries, Inc. (NASDAQ:FORD) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 926,606 shares of the textile maker’s stock after acquiring an additional 45,341 shares during the period. Grassi Investment Management owned about 9.72% of Forward Industries worth $8,488,000 as of its most recent SEC filing. Institutional investors own 23.40% of the company’s stock.

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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