Forward Industries (NASDAQ:FORD) Share Price Passes Below 200 Day Moving Average of $1.32

Forward Industries, Inc. (NASDAQ:FORD) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.32 and traded as low as $1.19. Forward Industries shares last traded at $1.19, with a volume of 1,092 shares.

Several equities research analysts have weighed in on the stock. ValuEngine downgraded shares of Forward Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. TheStreet downgraded 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 simple moving average is $1.10 and its two-hundred day simple moving average is $1.32.

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

An institutional investor recently bought a new position in Forward Industries stock. Grassi Investment Management acquired a new stake in shares of Forward Industries, Inc. (NASDAQ:FORD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 881,265 shares of the textile maker’s stock, valued at approximately $9,015,000. Grassi Investment Management owned about 9.24% of Forward Industries at the end of the most recent reporting period. 22.92% of the stock is owned by hedge funds and other institutional investors.

Forward Industries Company Profile (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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