Forward Industries (NASDAQ:FWDI) Announces Quarterly Earnings Results

Forward Industries (NASDAQ:FWDI) posted its earnings results on Thursday. The company reported $0.08 EPS for the quarter, Zacks reports. Forward Industries had a negative return on equity of 46.10% and a negative net margin of 918.04%.

Forward Industries Price Performance

NASDAQ FWDI opened at $4.85 on Friday. Forward Industries has a 1 year low of $3.32 and a 1 year high of $46.00. The firm has a market capitalization of $405.65 million, a price-to-earnings ratio of -1.09 and a beta of 0.73.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forward Industries in a research report on Friday, December 26th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Forward Industries currently has an average rating of “Sell”.

Institutional Investors Weigh In On Forward Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in shares of Forward Industries in the fourth quarter valued at approximately $161,000. Aristides Capital LLC acquired a new stake in Forward Industries during the 4th quarter worth $180,000. State of Wyoming purchased a new position in Forward Industries during the 4th quarter worth $189,000. Summit Financial LLC purchased a new position in Forward Industries during the 4th quarter worth $222,000. Finally, Goldman Sachs Group Inc. acquired a new position in Forward Industries in the fourth quarter valued at $540,000.

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.