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

Forward Industries, Inc. (NASDAQ:FORD) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 25,700 shares, an increase of 52.1% from the February 28th total of 16,900 shares. Approximately 2.9% of the shares of the company are short sold. Based on an average trading volume of 16,300 shares, the days-to-cover ratio is currently 1.6 days.

Forward Industries Stock Down 7.1 %

FORD stock traded down $0.31 during trading on Friday, hitting $4.03. 42,824 shares of the company’s stock traded hands, compared to its average volume of 118,195. Forward Industries has a 52 week low of $3.10 and a 52 week high of $8.29. The stock has a fifty day moving average price of $5.08 and a two-hundred 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 net margin of 7.77% and a negative return on equity of 227.10%. The business 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 bought a new position in Forward Industries, Inc. (NASDAQ:FORD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Forward Industries in a report on Saturday. They issued a “hold” rating for the company.

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.