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

Forward Industries (NASDAQ:FWDI) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also recently issued reports on FWDI. Weiss Ratings raised shares of Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. B. Riley Financial restated a “buy” rating on shares of Forward Industries in a 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, Cantor Fitzgerald began coverage on shares of Forward Industries in a report on Tuesday. They set an “overweight” rating and a $7.90 target price on the stock. One equities research 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. Based on data from MarketBeat, Forward Industries currently has an average rating of “Moderate Buy” and a consensus price target of $7.45.

Forward Industries Stock Performance

NASDAQ FWDI opened at $4.81 on Friday. The firm has a market cap of $359.21 million, a P/E ratio of -2.35 and a beta of 0.79. The firm has a 50-day moving average price of $4.44. Forward Industries has a 1-year low of $3.48 and a 1-year high of $46.00.

Institutional Investors Weigh In On Forward Industries

Several large investors have recently bought and sold shares of the stock. Barclays PLC acquired a new stake in Forward Industries in the 4th quarter valued at about $43,000. Vontobel Holding Ltd. acquired a new position in shares of Forward Industries during the fourth quarter worth about $78,000. SummitTX Capital L.P. acquired a new position in shares of Forward Industries during the fourth quarter worth about $81,000. nVerses Capital LLC purchased a new stake in shares of Forward Industries during the fourth quarter worth approximately $99,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Forward Industries during the fourth quarter worth approximately $111,000.

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.