Forward Industries (NASDAQ:FWDI – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07, Zacks reports. Forward Industries had a negative net margin of 2,305.12% and a negative return on equity of 19.83%. The firm had revenue of $12.96 million for the quarter, compared to analysts’ expectations of $11.00 million.
Forward Industries Price Performance
NASDAQ FWDI traded down $0.59 during trading on Friday, reaching $4.48. The company’s stock had a trading volume of 1,178,304 shares, compared to its average volume of 924,223. The stock has a market cap of $372.47 million, a price-to-earnings ratio of -1.20 and a beta of 0.78. Forward Industries has a 12 month low of $4.03 and a 12 month high of $46.00. The company has a 50 day moving average of $4.70.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. B. Riley Financial reiterated a “buy” rating on shares of Forward Industries in a report on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Industries in a report on Monday, May 4th. Wall Street Zen lowered shares of Forward Industries from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research upgraded shares of Forward Industries to a “hold” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.
Institutional Trading of Forward Industries
A number of institutional investors and hedge funds have recently made changes to their positions in FWDI. Geode Capital Management LLC bought a new stake in shares of Forward Industries during the 4th quarter worth approximately $5,350,000. Goldman Sachs Group Inc. acquired a new position in Forward Industries during the 4th quarter worth approximately $540,000. State of Wyoming acquired a new position in Forward Industries during the 4th quarter worth approximately $189,000. Renaissance Technologies LLC acquired a new position in Forward Industries during the 4th quarter worth approximately $161,000. Finally, SkyBridge Capital II LLC acquired a new position in Forward Industries during the 4th quarter worth approximately $3,573,000.
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.
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