Product In Stock

Hey

Rather that having a stock number is there a way to show stock status??

Exaple- See attached mock up (PNG attached)

Yes. You should override the translations of these messages to set what you want. You can do that by following the documentation here:
www.hikashop.com/en/download/languages.html#modify

Hey

Presently I don't have any text to modify.

Is there a way to create the Stock status, that can be adjusted from the back end for each product, in turn would give the frontend product status as illustrated in the attached image.

If you want to add a status display with different possibilities that can be selected on the back end for each product, you should create a custom field of the table "product" and of the type "dropdown" via the menu Display->Custom fields (commercial editions only). Make sure that the field is published on the front end and enter the different values for it.