Forward Industries (NASDAQ:FWDI) Posts Earnings Results

Forward Industries (NASDAQ:FWDI) posted its earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, Zacks reports. Forward Industries had a negative net margin of 918.04% and a negative return on equity of 46.10%.

Forward Industries Stock Performance

Shares of NASDAQ:FWDI traded down $0.07 during trading hours on Thursday, hitting $4.85. The company’s stock had a trading volume of 871,834 shares, compared to its average volume of 888,345. The firm has a market cap of $405.66 million, a P/E ratio of -1.09 and a beta of 0.73. Forward Industries has a 52 week low of $3.32 and a 52 week high of $46.00.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Forward Industries in a report on Friday, December 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On Forward Industries

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC purchased a new stake in Forward Industries during the 4th quarter valued at about $5,350,000. SkyBridge Capital II LLC purchased a new stake in shares of Forward Industries in the fourth quarter valued at approximately $3,573,000. Goldman Sachs Group Inc. purchased a new position in Forward Industries during the fourth quarter valued at $540,000. State of Wyoming purchased a new stake in Forward Industries during the 4th quarter worth approximately $189,000. Finally, Aristides Capital LLC purchased a new position in Forward Industries in the 4th quarter valued at $180,000.

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.