Forward Industries, Inc. (NASDAQ:FWDI) Given Average Recommendation of “Hold” by Analysts

Shares of Forward Industries, Inc. (NASDAQ:FWDI) have earned an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $7.50.

A number of analysts have recently issued reports on FWDI shares. B. Riley Financial decreased their target price on Forward Industries from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Cantor Fitzgerald lifted their price target on shares of Forward Industries from $7.90 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. B Riley reiterated a “buy” rating on shares of Forward Industries in a research note on Thursday. Weiss Ratings raised shares of Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Forward Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 8th.

Institutional Inflows and Outflows

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

Forward Industries Stock Performance

Forward Industries stock traded up $0.22 during midday trading on Thursday, reaching $6.48. The stock had a trading volume of 556,237 shares, compared to its average volume of 1,120,156. Forward Industries has a twelve month low of $3.48 and a twelve month high of $46.00. The stock has a market capitalization of $478.62 million, a PE ratio of 53.77 and a beta of 0.88. The stock’s 50-day simple moving average is $4.59 and its 200 day simple moving average is $4.57.

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

Forward Industries Company Profile

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.