Forward Industries (NASDAQ:FWDI) Sees Large Volume Increase – Here’s Why

Forward Industries, Inc. (NASDAQ:FWDI) shares saw an uptick in trading volume on Monday . 935,148 shares traded hands during trading, a decline of 22% from the previous session’s volume of 1,200,276 shares.The stock last traded at $8.0190 and had previously closed at $7.70.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FWDI shares. Cantor Fitzgerald upped their price target on shares of Forward Industries from $8.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. Weiss Ratings upgraded shares of Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. B. Riley Financial boosted their price objective on shares of Forward Industries from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen raised shares of Forward Industries from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Forward Industries presently has a consensus rating of “Hold” and a consensus price target of $13.50.

Forward Industries Trading Up 5.3%

The company has a market capitalization of $635.11 million, a P/E ratio of 71.67 and a beta of 0.88. The firm’s 50 day moving average price is $5.29 and its two-hundred day moving average price is $4.80.

Forward Industries (NASDAQ:FWDI) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.84). Forward Industries had a negative return on equity of 18.05% and a negative net margin of 2,073.82%.The business had revenue of $10.78 million during the quarter. Analysts anticipate that Forward Industries, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forward Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new stake in shares of Forward Industries during the 2nd quarter worth approximately $88,000. Aristides Capital LLC bought a new position in shares of Forward Industries in the fourth quarter valued at $180,000. ParaFi Capital LP bought a new position in shares of Forward Industries in the second quarter valued at $684,000. Finally, Bank of New York Mellon Corp acquired a new position in Forward Industries during the second quarter worth $739,000.

About Forward Industries

Forward Industries, Inc (NASDAQ: FWDI) is a product design, development and manufacturing company that creates solutions for medical, industrial, consumer electronics and other specialized markets. The company is known for developing protective and carrying products, including custom cases, bags, backpacks and related accessories designed to support the transportation and use of electronic and technical equipment.

Forward Industries serves original equipment manufacturers, distributors and other business customers through customized product development and manufacturing programs.