Forward Industries (NASDAQ:FWDI) Issues Earnings Results

Forward Industries (NASDAQ:FWDI) posted its earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, Zacks reports. Forward Industries had a negative return on equity of 46.10% and a negative net margin of 918.04%.

Forward Industries Price Performance

Shares of NASDAQ FWDI traded down $0.07 during mid-day trading on Thursday, reaching $4.85. 871,834 shares of the company’s stock were exchanged, compared to its average volume of 888,345. Forward Industries has a twelve month low of $3.32 and a twelve month high of $46.00. The firm has a market cap of $405.66 million, a P/E ratio of -1.09 and a beta of 0.73.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC bought a new stake in shares of Forward Industries during the fourth quarter worth $5,350,000. SkyBridge Capital II LLC acquired a new position in Forward Industries in the 4th quarter worth $3,573,000. Goldman Sachs Group Inc. bought a new position in Forward Industries during the 4th quarter worth about $540,000. State of Wyoming acquired a new stake in shares of Forward Industries in the 4th quarter valued at about $189,000. Finally, Aristides Capital LLC bought a new stake in shares of Forward Industries in the fourth quarter valued at about $180,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Forward Industries in a research note on Friday, December 26th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

About Forward Industries

Forward Industries, Inc is a company that designs, manufactures and markets protective solutions and accessories for portable electronic devices. Its product range typically includes protective cases, covers, sleeves, holsters and carrying solutions tailored for smartphones, tablets and other consumer electronics, along with related accessory items. The company combines industrial design and materials engineering to produce products that protect devices from impact, abrasion and everyday wear.

The business model centers on product design, sourcing and distribution for retail, wholesale and original equipment manufacturer (OEM) channels.