Forward Industries (NASDAQ:FWDI) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Forward Industries (NASDAQ:FWDI) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other brokerages have also recently commented on FWDI. 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 raised Forward Industries to a “strong-buy” rating in a research report on Thursday, July 2nd. Zacks Research raised Forward Industries to a “hold” rating in a report on Monday, April 27th. Finally, B. Riley Financial reissued a “buy” rating on shares of Forward Industries in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.45.

Forward Industries Price Performance

Shares of NASDAQ FWDI opened at $4.33 on Friday. The stock has a market capitalization of $323.36 million, a price-to-earnings ratio of -2.11 and a beta of 0.81. The business has a 50-day moving average of $4.24 and a 200-day moving average of $4.72. Forward Industries has a fifty-two week low of $3.48 and a fifty-two week high of $46.00.

Hedge Funds Weigh In On Forward Industries

Institutional investors have recently bought and sold shares of the business. Wolverine Asset Management LLC bought a new stake in Forward Industries in the fourth quarter valued at approximately $909,000. Geode Capital Management LLC acquired a new position in shares of Forward Industries during the 4th quarter worth approximately $5,350,000. Goldman Sachs Group Inc. acquired a new position in shares of Forward Industries during the 4th quarter worth approximately $540,000. State of Wyoming bought a new stake in Forward Industries in the 4th quarter valued at $189,000. Finally, Renaissance Technologies LLC bought a new stake in Forward Industries in the 4th quarter valued at $161,000.

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.