Forward Industries (NASDAQ:FWDI) Trading 2.7% Higher – Time to Buy?

Forward Industries, Inc. (NASDAQ:FWDI)’s share price traded up 2.7% on Monday . The company traded as high as $4.65 and last traded at $4.63. 760,439 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 847,575 shares. The stock had previously closed at $4.51.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Forward Industries in a research report on Friday, December 26th. Wall Street Zen upgraded shares of Forward Industries from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Forward Industries Stock Performance

The firm has a market capitalization of $383.28 million, a P/E ratio of -1.23 and a beta of 0.77. The firm has a 50 day simple moving average of $4.70.

Hedge Funds Weigh In On Forward Industries

Several hedge funds and other institutional investors have recently bought and sold shares of FWDI. Barclays PLC acquired a new position in Forward Industries in the fourth quarter valued at $43,000. Vontobel Holding Ltd. acquired a new position in Forward Industries in the fourth quarter valued at $78,000. SummitTX Capital L.P. acquired a new position in Forward Industries in the fourth quarter valued at $81,000. nVerses Capital LLC acquired a new position in Forward Industries in the fourth quarter valued at $99,000. Finally, Cetera Investment Advisers acquired a new position in Forward Industries in the fourth quarter valued at $111,000.

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.