Forward Industries (NASDAQ:FWDI) Upgraded by B. Riley Financial to "Strong-Buy" Rating

Key Points

• B. Riley Financial upgraded Forward Industries (NASDAQ:FWDI) to a strong-buy, while MarketBeat shows a consensus rating of Moderate Buy with an average price target of $7.00.
• Shares opened at $4.66 on Wednesday (down about 5.3%), with a market capitalization of $387.4 million, a negative trailing P/E of -1.25, and a one‑year trading range of $4.03 to $46.00.
• Multiple large investors initiated sizable new stakes in Q4 — including Galaxy Group, J Digital 6, Multicoin, Alyeska and Polar Asset Management — with reported buys ranging from roughly $8.9 million to $53.6 million each.

Forward Industries (NASDAQ:FWDI - Get Free Report) was upgraded by analysts at B. Riley Financial to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on FWDI. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Forward Industries in a research report on Friday, December 26th. Wall Street Zen raised shares of Forward Industries from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, Forward Industries currently has a consensus rating of "Moderate Buy" and an average price target of $7.00.

Forward Industries Stock Down 5.3%

Shares of NASDAQ:FWDI opened at $4.66 on Wednesday. The firm has a market capitalization of $387.43 million, a PE ratio of -1.25 and a beta of 0.77. Forward Industries has a 1-year low of $4.03 and a 1-year high of $46.00. The business's fifty day simple moving average is $4.66.

Institutional Trading of Forward Industries

Large investors have recently modified their holdings of the company. Galaxy Group Investments LLC bought a new stake in Forward Industries in the 4th quarter valued at about $53,595,000. J Digital 6 LLC bought a new position in Forward Industries in the 4th quarter worth about $52,535,000. Multicoin Capital Management LLC bought a new position in Forward Industries in the 4th quarter worth about $52,535,000. Alyeska Investment Group L.P. acquired a new stake in shares of Forward Industries in the fourth quarter valued at approximately $21,484,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Forward Industries in the fourth quarter valued at approximately $8,919,000.

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.

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