Forward Industries (NASDAQ:FWDI) Stock Price Up 6.3% - Still a Buy?

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Forward Industries from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Cantor Fitzgerald increased their target price on shares of Forward Industries from $8.00 to $16.00 and gave the stock an "overweight" rating in a research report on Thursday, September 10th. Weiss Ratings raised Forward Industries from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 29th. Finally, B. Riley Financial upped their price target on Forward Industries from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, September 22nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Forward Industries has a consensus rating of "Hold" and a consensus target price of $13.50.

Forward Industries Trading Up 1.7%

The stock has a market cap of $586.00 million, a price-to-earnings ratio of 66.27 and a beta of 0.88. The company has a fifty day simple moving average of $5.75 and a 200-day simple moving average of $4.93.

Forward Industries (NASDAQ:FWDI - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.84). The business 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%. As a group, analysts anticipate that Forward Industries, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of Forward Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new stake in Forward Industries in the 2nd quarter worth $88,000. Aristides Capital LLC acquired a new position in Forward Industries during the fourth quarter worth $180,000. ParaFi Capital LP acquired a new stake in shares of Forward Industries in the second quarter valued at $684,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Forward Industries in the second quarter valued at $739,000.

About Forward Industries

Forward Industries is a Solana (SOL) focused digital asset treasury company with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols and businesses. The company's mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL. Additionally, Forward Industries engages with, provides tools to, and invests in the Solana protocol, Solana developers, and Solana-related projects to further develop the SOL ecosystem.

In September 2025, Forward Industries announced a $1.65 billion private investment in public equity offering led by Galaxy Digital, Jump Crypto, and Multicoin Capital with participation with C/M Capital Partners, LP, one of Forward Industries' largest existing Shareholders, to initiate a Solana-focused digital asset treasury strategy and further align the company with the fast-growing Solana ecosystem.