Short Interest in Forward Industries, Inc. (NASDAQ:FORD) Declines By 5.7%

Forward Industries, Inc. (NASDAQ:FORD) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 131,800 shares, a drop of 5.7% from the March 31st total of 139,800 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 27,500 shares, the days-to-cover ratio is presently 4.8 days.

Forward Industries Price Performance

FORD traded down $0.02 on Tuesday, hitting $0.53. 5,498 shares of the company were exchanged, compared to its average volume of 27,189. The firm has a fifty day simple moving average of $0.59 and a two-hundred day simple moving average of $0.68. Forward Industries has a 12 month low of $0.46 and a 12 month high of $1.10.

Forward Industries (NASDAQ:FORD) last posted its quarterly earnings results on Wednesday, February 14th. The textile maker reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $7.15 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Forward Industries in a research report on Wednesday, April 24th. They set a “hold” rating on the stock.

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.