Forward Industries (NASDAQ:FWDI) Lowered to Sell Rating by Wall Street Zen

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

A number of other equities research analysts also recently issued reports on FWDI. Zacks Research upgraded Forward Industries to a “hold” rating in a research note on Monday, April 27th. B. Riley Financial restated a “buy” rating on shares of Forward Industries in a research note on Friday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Forward Industries in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Forward Industries has an average rating of “Hold” and a consensus target price of $7.00.

Forward Industries Trading Down 11.6%

Forward Industries stock opened at $4.48 on Friday. The company’s 50-day moving average price is $4.70. The company has a market cap of $372.47 million, a P/E ratio of -1.20 and a beta of 0.78. Forward Industries has a 52-week low of $4.03 and a 52-week high of $46.00.

Forward Industries (NASDAQ:FWDI) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The business had revenue of $12.96 million during the quarter, compared to the consensus estimate of $11.00 million. Forward Industries had a negative return on equity of 19.83% and a negative net margin of 2,305.12%. On average, equities research analysts forecast that Forward Industries will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FWDI. Barclays PLC bought a new position in shares of Forward Industries during the 4th quarter valued at approximately $43,000. Vontobel Holding Ltd. purchased a new position in Forward Industries in the 4th quarter worth approximately $78,000. SummitTX Capital L.P. purchased a new position in Forward Industries in the 4th quarter worth approximately $81,000. nVerses Capital LLC purchased a new position in Forward Industries in the 4th quarter worth approximately $99,000. Finally, Cetera Investment Advisers purchased a new position in Forward Industries in the 4th quarter worth approximately $111,000.

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.