Forward Industries (NASDAQ:FWDI) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Forward Industries (NASDAQ:FWDI) announced its quarterly earnings results on Thursday. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07, Zacks reports. Forward Industries had a negative net margin of 2,148.40% and a negative return on equity of 27.36%.

Forward Industries Price Performance

NASDAQ FWDI traded up $0.43 during trading hours on Thursday, reaching $5.07. The company had a trading volume of 1,882,125 shares, compared to its average volume of 875,680. The firm has a 50-day moving average price of $4.71. Forward Industries has a 1-year low of $4.03 and a 1-year high of $46.00. The company has a market capitalization of $421.52 million, a PE ratio of -1.36 and a beta of 0.78.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FWDI. Barclays PLC purchased a new stake in Forward Industries during the fourth quarter worth about $43,000. Vontobel Holding Ltd. purchased a new stake in Forward Industries during the fourth quarter worth about $78,000. SummitTX Capital L.P. purchased a new stake in Forward Industries during the fourth quarter worth about $81,000. nVerses Capital LLC purchased a new stake in Forward Industries during the fourth quarter worth about $99,000. Finally, Cetera Investment Advisers purchased a new stake in Forward Industries during the fourth quarter worth about $111,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FWDI shares. Wall Street Zen raised shares of Forward Industries from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. B. Riley Financial assumed coverage on shares of Forward Industries in a research report on Thursday, April 23rd. They set a “buy” rating and a $7.00 price target on the stock. Zacks Research raised shares of Forward Industries to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forward Industries in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Forward Industries has an average rating of “Hold” and an average target price of $7.00.

Forward Industries Company Profile

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.