Benzinga's Microcap Movers for Wednesday February 29, 2012

Below are highlights from Benzinga's daily coverage of microcap securities making big moves:

Shares of Forward Industries

, the Santa Monica, CA designer of cases for handheld devices, rose 22% Wednesday on 10 times the average daily volume. Forward announced Tuesday that it had entered into a global exclusive partnership with DriPadz, a designer of patent-pending waterproof protective solutions for consumer electronics devices, including the iPad. The partnership provides Forward with a global exclusive license to sell Forward-branded products under the LifeJacket brand name, that incorporates DriPadz' cutting edge technology, to consumer electronics retailers, original equipment manufacturers, and business-to-business channels. Forward Industries closed at $2.89 on Wednesday.

Shares of Joe's Jeans

, the Commerce, CA marketer of apparel products, rose 22% Wednesday on 11 times the average daily volume. After more than a decade as a premium denim leader, Joe's Jeans announced Wednesday the launch of a new brand, else, to be sold exclusively at Macy's. With price points starting at $68, else was created to reach young women who are looking for a premium denim-like product at a more affordable price. Macy's has dedicated space in its Impulse departments in 140 stores throughout the U.S. to showcase the else brand. The new line will also be available at macys.com. The else product offering, which includes five staple denim fits: skinny, boot cut, cropped, boyfriend and a cuffed short, will be rolling out at Macy's over the next two weeks. Joe's Jeans closed at $0.86 on Wednesday.

Shares of Constellation Energy Partners

, the Houston, TX oil and gas company, rose 9% Wednesday on 12 times the average daily volume. Constellation Energy Partners reported fourth quarter and full year 2011 results on Wednesday. Revenue totaled $33.5 million for the fourth quarter 2011 and $105.2 million for the full year 2011. Included in total revenue for the full year 2011 is revenue from sales of $57.2 million, of which approximately 82% was from natural gas sales and 18% was from oil sales. The balance of the company's full year 2011 total revenue came from hedge settlements ($82.7 million), services provided to third parties ($4.7 million), and losses on mark-to-market activities ($39.4 million), which is a non-cash item. During 2010, approximately 92% of the company's sales revenue was from natural gas sales and 8% was from oil sales. Adjusted EBITDA for the fourth quarter 2011 was $13.8 million, an improvement of 9% compared to the third quarter 2011. For the full year 2011, Adjusted EBITDA was $96.7 million, which includes $41.3 million in hedge settlements related to the hedge restructuring that the company announced in June 2011. Constellation Energy Partners closed at $2.80 on Wednesday.