Forward Industries (NASDAQ:FWDI) Upgraded to Hold at Wall Street Zen

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

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Forward Industries in a research report on Friday, December 26th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Forward Industries Stock Performance

Shares of NASDAQ FWDI opened at $4.68 on Friday. Forward Industries has a 12 month low of $3.60 and a 12 month high of $46.00. The firm has a market cap of $389.10 million, a PE ratio of -1.25 and a beta of 0.76. The company’s 50 day simple moving average is $5.69.

Institutional Investors Weigh In On Forward Industries

A number of large investors have recently bought and sold shares of the stock. Galaxy Group Investments LLC purchased a new position in Forward Industries during the fourth quarter worth $53,595,000. J Digital 6 LLC purchased a new stake in shares of Forward Industries in the fourth quarter valued at $52,535,000. Multicoin Capital Management LLC purchased a new stake in shares of Forward Industries in the fourth quarter valued at $52,535,000. Alyeska Investment Group L.P. acquired a new stake in shares of Forward Industries during the fourth quarter valued at $21,484,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Forward Industries during the fourth quarter valued at $8,919,000.

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.