Forward Industries (NASDAQ:FWDI) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Forward Industries (NASDAQ:FWDI) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on FWDI. Zacks Research raised Forward Industries to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings upgraded Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. B. Riley Financial reaffirmed a “buy” rating on shares of Forward Industries in a research note on Friday, May 15th. Finally, Wall Street Zen downgraded Forward Industries from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Forward Industries has a consensus rating of “Moderate Buy” and an average target price of $7.45.

Forward Industries Trading Up 11.4%

NASDAQ FWDI opened at $4.70 on Tuesday. The company’s 50-day simple moving average is $4.44. Forward Industries has a 12-month low of $3.48 and a 12-month high of $46.00. The stock has a market capitalization of $351.00 million, a price-to-earnings ratio of -2.29 and a beta of 0.79.

Hedge Funds Weigh In On Forward Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aristides Capital LLC purchased a new stake in Forward Industries in the fourth quarter worth $180,000. Galaxy Group Investments LLC purchased a new position in Forward Industries during the 4th quarter valued at $53,595,000. XTX Topco Ltd bought a new position in Forward Industries in the 4th quarter worth $419,000. nVerses Capital LLC bought a new position in Forward Industries in the 4th quarter worth $99,000. Finally, SummitTX Capital L.P. purchased a new stake in shares of Forward Industries in the 4th quarter worth about $81,000.

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.