Forward Industries (NASDAQ:FWDI) Upgraded to Strong-Buy at B. Riley Financial

B. Riley Financial upgraded shares of Forward Industries (NASDAQ:FWDI) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also commented on FWDI. Weiss Ratings reissued a “sell (d-)” rating on shares of Forward Industries in a research note on Friday, December 26th. Wall Street Zen raised Forward Industries from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Forward Industries has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Forward Industries Trading Down 5.3%

Forward Industries stock opened at $4.66 on Wednesday. The firm has a market capitalization of $387.43 million, a price-to-earnings ratio of -1.25 and a beta of 0.77. The business has a fifty day simple moving average of $4.66. Forward Industries has a 52 week low of $4.03 and a 52 week high of $46.00.

Hedge Funds Weigh In On Forward Industries

Large investors have recently made changes to their positions in the company. Barclays PLC acquired a new position in shares of Forward Industries during the fourth quarter valued at $43,000. Vontobel Holding Ltd. acquired a new position in shares of Forward Industries during the fourth quarter valued at $78,000. SummitTX Capital L.P. acquired a new position in shares of Forward Industries during the fourth quarter valued at $81,000. nVerses Capital LLC acquired a new position in shares of Forward Industries during the fourth quarter valued at $99,000. Finally, Cetera Investment Advisers acquired a new position in shares of Forward Industries during the fourth quarter valued at $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.