Forward Industries (NASDAQ:FWDI) Sees Unusually-High Trading Volume – Time to Buy?

Forward Industries, Inc. (NASDAQ:FWDI) saw unusually-high trading volume on Monday . Approximately 935,148 shares traded hands during trading, a decline of 22% from the previous session’s volume of 1,200,276 shares.The stock last traded at $8.0190 and had previously closed at $7.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on 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. Cantor Fitzgerald lifted their price target on Forward Industries from $8.00 to $16.00 and gave the company an “overweight” rating in a research 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. Finally, B. Riley Financial reissued a “buy” rating on shares of Forward Industries in a report on Thursday, September 3rd. Two investment 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’s stock. Based on data from MarketBeat.com, Forward Industries has a consensus rating of “Hold” and a consensus price target of $12.50.

Forward Industries Price Performance

The firm has a market cap of $594.17 million, a PE ratio of 67.23 and a beta of 0.88. The company has a 50 day simple moving average of $5.12 and a 200-day simple moving average of $4.75.

Forward Industries (NASDAQ:FWDI) last posted its quarterly earnings results 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 for the quarter. On average, sell-side analysts predict that Forward Industries, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Trading of Forward Industries

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of Forward Industries during the second quarter valued at about $739,000. ParaFi Capital LP bought a new stake in shares of Forward Industries in the 2nd quarter valued at about $684,000. Aristides Capital LLC bought a new stake in shares of Forward Industries in the 4th quarter valued at about $180,000. Finally, WINTON GROUP Ltd purchased a new stake in Forward Industries during the 2nd quarter valued at about $88,000.

Forward Industries Company Profile

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.