Forward Industries (NASDAQ:FWDI) Stock Rating Lowered by Wall Street Zen

Forward Industries (NASDAQ:FWDI – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

FWDI has been the subject of a number of other reports. B. Riley Financial reissued a “buy” rating on shares of Forward Industries in a report on Friday, May 15th. Weiss Ratings raised shares of Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Forward Industries to a “hold” rating in a report on Monday, April 27th. Finally, Cantor Fitzgerald raised shares of Forward Industries to a “strong-buy” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.45.

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Forward Industries Price Performance

Shares of Forward Industries stock opened at $4.33 on Friday. The business has a fifty day simple moving average of $4.24 and a 200-day simple moving average of $4.69. Forward Industries has a fifty-two week low of $3.48 and a fifty-two week high of $46.00. The firm has a market cap of $323.36 million, a price-to-earnings ratio of -2.11 and a beta of 0.81.

Institutional Investors Weigh In On Forward Industries

Several hedge funds have recently modified their holdings of the stock. Barclays PLC acquired a new position in shares of Forward Industries in the 4th quarter valued at $43,000. Vontobel Holding Ltd. acquired a new stake in Forward Industries during the 4th quarter worth about $78,000. SummitTX Capital L.P. acquired a new stake in Forward Industries during the 4th quarter worth about $81,000. nVerses Capital LLC purchased a new stake in Forward Industries during the fourth quarter valued at about $99,000. Finally, Cetera Investment Advisers purchased a new stake in Forward Industries during the fourth quarter valued at about $111,000.

About Forward Industries

(Get Free Report)

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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