Forward Industries, Inc. (NASDAQ:FWDI – Get Free Report)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $8.01, but opened at $8.37. Forward Industries shares last traded at $8.14, with a volume of 290,441 shares.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on FWDI shares. Wall Street Zen upgraded Forward Industries from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Weiss Ratings raised Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald boosted their target price 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. Finally, B. Riley Financial increased their price target on shares of Forward Industries from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Two 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.50.
View Our Latest Stock Analysis on Forward Industries
Forward Industries Stock Performance
Forward Industries (NASDAQ:FWDI – Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.84). The firm had revenue of $10.78 million for the quarter. Forward Industries had a negative return on equity of 18.05% and a negative net margin of 2,073.82%. Analysts expect that Forward Industries, Inc. will post -0.38 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Forward Industries
A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in shares of Forward Industries during the second quarter worth approximately $739,000. ParaFi Capital LP bought a new stake in shares of Forward Industries in the second quarter valued at approximately $684,000. Aristides Capital LLC bought a new stake in shares of Forward Industries in the fourth quarter valued at approximately $180,000. Finally, WINTON GROUP Ltd acquired a new stake in Forward Industries during the second quarter worth approximately $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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