Forward Industries (NASDAQ:FWDI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Forward Industries (NASDAQ:FWDI) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. B Riley restated a “buy” rating on shares of Forward Industries in a research note on Thursday, September 3rd. B. Riley Financial increased their price objective on shares of Forward Industries from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Weiss Ratings raised shares of Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald boosted their target price on shares of Forward Industries from $8.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.50.

Forward Industries Price Performance

NASDAQ FWDI opened at $6.95 on Friday. The business’s fifty day moving average price is $4.94 and its 200-day moving average price is $4.69. The stock has a market capitalization of $513.26 million, a price-to-earnings ratio of 57.92 and a beta of 0.88. Forward Industries has a 1-year low of $3.48 and a 1-year high of $43.50.

Forward Industries (NASDAQ:FWDI) last issued 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 firm had revenue of $10.78 million during the quarter. Forward Industries had a negative return on equity of 18.05% and a negative net margin of 2,073.82%. Equities research analysts anticipate that Forward Industries will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FWDI. Bank of New York Mellon Corp purchased a new stake in Forward Industries during the second quarter valued at approximately $739,000. ParaFi Capital LP purchased a new position in Forward Industries in the second quarter worth $684,000. Aristides Capital LLC acquired a new position in shares of Forward Industries during the fourth quarter worth $180,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Forward Industries during the 2nd quarter valued at $88,000.

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.