Forward Industries (NASDAQ:FWDI) Price Target Raised to $8.00

Forward Industries (NASDAQ:FWDI) had its price target upped by Cantor Fitzgerald from $7.90 to $8.00 in a research note published on Thursday morning, Marketbeat reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the stock. Weiss Ratings raised shares of Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. B. Riley Financial reiterated a “buy” rating on shares of Forward Industries in a research report on Friday, May 15th. Zacks Research raised shares of Forward Industries to a “hold” rating in a research note on Monday, April 27th. Finally, Wall Street Zen cut shares of Forward Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Forward Industries presently has a consensus rating of “Hold” and a consensus price target of $7.50.

Forward Industries Trading Up 2.9%

FWDI opened at $4.26 on Thursday. Forward Industries has a 1-year low of $3.48 and a 1-year high of $46.00. The firm has a 50-day moving average price of $4.24 and a two-hundred day moving average price of $4.60. The stock has a market capitalization of $318.14 million, a PE ratio of -2.08 and a beta of 0.81.

Forward Industries (NASDAQ:FWDI) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.84). The company had revenue of $10.78 million during the quarter. Forward Industries had a negative return on equity of 18.05% and a negative net margin of 2,073.82%. On average, research analysts predict that Forward Industries will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

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

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.