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

Shares of Forward Industries, Inc. (NASDAQ:FWDI) have received a consensus rating of “Hold” from the five brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $8.50.

A number of brokerages recently weighed in on FWDI. Weiss Ratings raised Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of Forward Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Cantor Fitzgerald increased 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 restated a “buy” rating on shares of Forward Industries in a report on Thursday, September 3rd. Finally, B. Riley Financial lifted their price objective on shares of Forward Industries from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd.

Institutional Investors Weigh In On Forward Industries

Institutional investors have recently bought and sold shares of the company. Barclays PLC acquired a new position in shares of Forward Industries during the fourth quarter worth $43,000. Vontobel Holding Ltd. acquired a new stake in Forward Industries in the 4th quarter worth approximately $78,000. SummitTX Capital L.P. acquired a new stake in Forward Industries in the 4th quarter worth approximately $81,000. WINTON GROUP Ltd purchased a new stake in Forward Industries during the 2nd quarter worth approximately $88,000. Finally, nVerses Capital LLC purchased a new stake in Forward Industries during the 4th quarter worth approximately $99,000.

Forward Industries Stock Down 4.5%

Forward Industries stock opened at $6.55 on Thursday. The firm has a market cap of $483.72 million, a P/E ratio of 54.58 and a beta of 0.88. The business has a fifty day moving average of $4.83 and a two-hundred day moving average of $4.64. Forward Industries has a twelve month low of $3.48 and a twelve month high of $46.00.

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