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

Forward Industries (NASDAQ:FWDI) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forward Industries in a research note on Friday, December 26th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Forward Industries Stock Down 5.5%

NASDAQ:FWDI opened at $4.68 on Friday. Forward Industries has a 1-year low of $3.60 and a 1-year high of $46.00. The firm has a 50-day moving average of $5.69. The firm has a market capitalization of $389.10 million, a price-to-earnings ratio of -1.25 and a beta of 0.77.

Institutional Trading of Forward Industries

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC bought a new position in Forward Industries during the fourth quarter worth about $43,000. Vontobel Holding Ltd. bought a new stake in shares of Forward Industries in the fourth quarter worth about $78,000. SummitTX Capital L.P. acquired a new stake in shares of Forward Industries during the fourth quarter worth about $81,000. nVerses Capital LLC acquired a new stake in shares of Forward Industries during the fourth quarter worth about $99,000. Finally, Cetera Investment Advisers bought a new position in shares of Forward Industries during the 4th quarter valued at about $111,000.

About Forward Industries

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.