Shares of Forward Industries, Inc. (NASDAQ:FWDI – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $6.20, but opened at $6.68. Forward Industries shares last traded at $6.9250, with a volume of 587,153 shares traded.
Analysts Set New Price Targets
Several brokerages recently commented on FWDI. B. Riley Financial increased their price objective on shares of Forward Industries from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Cantor Fitzgerald upped their price target on shares of Forward Industries from $8.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Wall Street Zen upgraded Forward Industries from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Weiss Ratings raised Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Finally, B Riley restated a “buy” rating on shares of Forward Industries in a research report on Thursday, September 3rd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.50.
Forward Industries Trading Up 17.2%
Forward Industries (NASDAQ:FWDI – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.84). Forward Industries had a negative return on equity of 18.05% and a negative net margin of 2,073.82%.The business had revenue of $10.78 million during the quarter. On average, equities research analysts predict that Forward Industries, Inc. will post -0.4 earnings per share for the current year.
Hedge Funds Weigh In On Forward Industries
A number of large investors have recently added to or reduced their stakes in FWDI. Bank of New York Mellon Corp purchased a new stake in shares of Forward Industries during the second quarter valued at approximately $739,000. ParaFi Capital LP purchased a new stake in Forward Industries during the 2nd quarter valued at $684,000. Aristides Capital LLC bought a new stake in Forward Industries in the 4th quarter worth $180,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Forward Industries in the second quarter valued at about $88,000.
About Forward Industries
Forward Industries, Inc (NASDAQ: FWDI) is a product design, development and manufacturing company that creates solutions for medical, industrial, consumer electronics and other specialized markets. The company is known for developing protective and carrying products, including custom cases, bags, backpacks and related accessories designed to support the transportation and use of electronic and technical equipment.
Forward Industries serves original equipment manufacturers, distributors and other business customers through customized product development and manufacturing programs.
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