Forward Industries (NASDAQ:FWDI) Stock Price Down 4.9% – What’s Next?

Forward Industries, Inc. (NASDAQ:FWDI)’s stock price dropped 4.9% during mid-day trading on Wednesday . The stock traded as low as $3.84 and last traded at $3.85. Approximately 968,521 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 1,014,908 shares. The stock had previously closed at $4.05.

Analyst Upgrades and Downgrades

FWDI has been the topic of several recent research reports. Zacks Research upgraded Forward Industries to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Industries in a report on Monday, May 4th. Wall Street Zen lowered Forward Industries from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, B. Riley Financial reissued a “buy” rating on shares of Forward Industries in a report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

Forward Industries Stock Up 0.9%

The business has a fifty day moving average of $4.51.

Institutional Trading of Forward Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new stake in Forward Industries during the 4th quarter worth approximately $43,000. Vontobel Holding Ltd. bought a new stake in Forward Industries during the 4th quarter worth approximately $78,000. SummitTX Capital L.P. bought a new stake in Forward Industries during the 4th quarter worth approximately $81,000. nVerses Capital LLC bought a new stake in Forward Industries during the 4th quarter worth approximately $99,000. Finally, Cetera Investment Advisers bought a new position in shares of Forward Industries in the fourth quarter valued at approximately $111,000.

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.