Wall Street Zen Upgrades Forward Industries (NASDAQ:FWDI) to “Hold”

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

Several other equities research analysts also recently weighed in on the company. B. Riley Financial upped their price target on Forward Industries from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Weiss Ratings upgraded Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. B Riley reissued a “buy” rating on shares of Forward Industries in a research report on Thursday, September 3rd. Finally, Cantor Fitzgerald upped their target price on shares of Forward Industries from $8.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday. Three research analysts have 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.com, the company currently has an average rating of “Hold” and an average target price of $12.50.

Forward Industries Price Performance

NASDAQ:FWDI opened at $6.55 on Friday. The company has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $4.67. The company has a market cap of $483.72 million, a price-to-earnings ratio of 54.58 and a beta of 0.88. Forward Industries has a 52 week low of $3.48 and a 52 week high of $46.00.

Forward Industries (NASDAQ:FWDI) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, analysts expect that Forward Industries will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Forward Industries

Large investors have recently bought and sold shares of the business. Barclays PLC acquired a new stake in Forward Industries in the fourth quarter valued at $43,000. Vontobel Holding Ltd. purchased a new position in shares of Forward Industries in the 4th quarter valued at about $78,000. SummitTX Capital L.P. acquired a new stake in shares of Forward Industries during the 4th quarter worth about $81,000. nVerses Capital LLC purchased a new stake in Forward Industries during the fourth quarter worth approximately $99,000. Finally, Cetera Investment Advisers purchased a new position in Forward Industries in the fourth quarter valued at approximately $111,000.

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.