Forward Industries (NASDAQ:FWDI) Stock Rating Lowered by Wall Street Zen

Forward Industries (NASDAQ:FWDI) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other analysts have also weighed in on FWDI. B. Riley Financial lifted their price objective on shares of Forward Industries from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Forward Industries in a research note on Tuesday, October 27th. Finally, Cantor Fitzgerald raised their price target on shares of Forward Industries from $8.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.50.

Forward Industries Price Performance

Shares of FWDI opened at $4.94 on Friday. Forward Industries has a 52-week low of $3.48 and a 52-week high of $9.54. The business’s 50 day moving average price is $6.92 and its two-hundred day moving average price is $5.23.

Forward Industries (NASDAQ:FWDI) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.84). The company 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%. As a group, research analysts forecast that Forward Industries will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FWDI. Russell Investments Group Ltd. bought a new position in Forward Industries in the third quarter worth approximately $41,000. WINTON GROUP Ltd acquired a new stake in Forward Industries in the second quarter valued at approximately $88,000. Polymer Capital Management US LLC bought a new stake in shares of Forward Industries during the third quarter valued at approximately $107,000. StoneX Group Inc. bought a new stake in shares of Forward Industries during the third quarter valued at approximately $134,000. Finally, J. Derek Lewis & Associates Inc. bought a new stake in shares of Forward Industries during the third quarter valued at approximately $289,000.

About Forward Industries

Forward Industries is a Solana (SOL) focused digital asset treasury company with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols and businesses. The company’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL. Additionally, Forward Industries engages with, provides tools to, and invests in the Solana protocol, Solana developers, and Solana-related projects to further develop the SOL ecosystem. In September 2025, Forward Industries announced a $1.65 billion private investment in public equity offering led by Galaxy Digital, Jump Crypto, and Multicoin Capital with participation with C/M Capital Partners, LP, one of Forward Industries’ largest existing Shareholders, to initiate a Solana-focused digital asset treasury strategy and further align the company with the fast-growing Solana ecosystem.