Forward Industries (NASDAQ:FWDI) Stock Price Up 6.3% - What's Next?

Key Points

• Forward Industries shares rose 6.3% to about $6.87 in Friday trading, though volume was 48% below the average session level.
• Analyst views remain mixed: three analysts rate the stock a Buy, while others rate it Hold or Sell. The consensus rating is Hold, with an average price target of $12.50; Cantor Fitzgerald recently raised its target to $16.
• The company reported a significant quarterly loss of $0.80 per share versus expectations for a $0.04 profit, alongside $10.78 million in revenue. Forward Industries continues to show negative margins and analysts expect a full-year loss.

Shares of Forward Industries, Inc. (NASDAQ:FWDI - Get Free Report) traded up 6.3% on Friday . The stock traded as high as $6.90 and last traded at $6.8680. Approximately 592,570 shares were traded during mid-day trading, a decline of 48% from the average session volume of 1,140,866 shares. The stock had previously closed at $6.46.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen cut shares of Forward Industries from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. B Riley reiterated a "buy" rating on shares of Forward Industries in a research note on Thursday, September 3rd. Cantor Fitzgerald raised their price objective on shares of Forward Industries from $8.00 to $16.00 and gave the stock an "overweight" rating in a research report on Thursday. B. Riley Financial lifted their price objective on shares of Forward Industries from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Finally, Weiss Ratings raised shares of Forward Industries from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $12.50.

Forward Industries Stock Up 4.7%

The company has a fifty day moving average of $4.86 and a two-hundred day moving average of $4.65. The stock has a market capitalization of $499.60 million, a price-to-earnings ratio of 56.62 and a beta of 0.88.

Forward Industries (NASDAQ:FWDI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) earnings per share (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 net margin of 2,073.82% and a negative return on equity of 18.05%. Equities analysts anticipate that Forward Industries, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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