Forward Industries (NASDAQ:FWDI – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.84), FiscalAI reports. Forward Industries had a negative return on equity of 21.42% and a negative net margin of 2,305.12%.The business had revenue of $10.78 million for the quarter.
Forward Industries Stock Down 4.2%
Shares of Forward Industries stock traded down $0.18 during trading on Thursday, reaching $4.21. The company’s stock had a trading volume of 369,444 shares, compared to its average volume of 1,014,939. The company has a market cap of $314.78 million, a price-to-earnings ratio of -2.06 and a beta of 0.81. Forward Industries has a 1-year low of $3.48 and a 1-year high of $46.00. The company has a 50-day simple moving average of $4.23 and a two-hundred day simple moving average of $4.63.
Wall Street Analysts Forecast Growth
FWDI has been the topic of a number of analyst reports. Weiss Ratings raised Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Zacks Research raised shares of Forward Industries to a “hold” rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of Forward Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. B. Riley Financial decreased their price objective on shares of Forward Industries from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday. Finally, Cantor Fitzgerald upped their price target on shares of Forward Industries from $7.90 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.50.
Institutional Investors Weigh In On Forward Industries
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC purchased a new stake in shares of Forward Industries during the fourth quarter worth about $43,000. Vontobel Holding Ltd. acquired a new position in shares of Forward Industries during the fourth quarter valued at about $78,000. SummitTX Capital L.P. purchased a new position in shares of Forward Industries in the 4th quarter valued at approximately $81,000. nVerses Capital LLC purchased a new position in shares of Forward Industries in the 4th quarter valued at approximately $99,000. Finally, Cetera Investment Advisers acquired a new stake in Forward Industries in the 4th quarter worth approximately $111,000.
Key Forward Industries News
Here are the key news stories impacting Forward Industries this week:
- Positive Sentiment: Analyst targets remain well above the current share price. Cantor Fitzgerald raised its target from $7.90 to $8.00 and assigned an “overweight” rating, while B. Riley lowered its target from $8.00 to $7.00 but maintained a “buy” rating. The revised targets imply significant potential upside. Benzinga analyst rating reports
- Positive Sentiment: Forward Industries highlighted strategic SOL accumulation. The company’s earnings-call discussion indicates that building a Solana (SOL) position is an important part of its strategy, potentially giving investors additional exposure to cryptocurrency-related gains if SOL appreciates. Forward Industries Q3 earnings call highlights
- Neutral Sentiment: Short-interest data shows no reported short position. Short interest was listed at zero shares as of August 11, suggesting limited measurable short-selling pressure. However, the reported figures and percentage change appear unreliable, so the data offers little actionable insight.
- Negative Sentiment: Fiscal third-quarter results were materially weaker than expected. Forward Industries reported a loss of $0.80 per share versus consensus expectations for earnings of $0.04 per share. Revenue was $10.78 million, while the company posted a sharply negative net margin and negative return on equity. The earnings miss is the most immediate reason the stock has decreased and may overshadow the favorable analyst commentary. Forward Industries fiscal third-quarter results
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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