Forward Industries (NASDAQ:FWDI) Price Target Raised to $11.00

Forward Industries (NASDAQ:FWDI) had its price objective hoisted by B. Riley Financial from $9.00 to $11.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on FWDI. Cantor Fitzgerald raised their target price on Forward Industries from $8.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, September 10th. Weiss Ratings upgraded Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Forward Industries from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Forward Industries currently has an average rating of “Hold” and a consensus target price of $13.50.

Forward Industries Trading Up 3.6%

Shares of FWDI opened at $8.35 on Tuesday. The stock has a market capitalization of $616.65 million, a P/E ratio of 69.58 and a beta of 0.88. The firm’s fifty day simple moving average is $5.44 and its two-hundred day simple moving average is $4.85. Forward Industries has a 12 month low of $3.48 and a 12 month high of $30.75.

Forward Industries (NASDAQ:FWDI) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.84). The business had revenue of $10.78 million during the quarter. Forward Industries had a negative return on equity of 18.05% and a negative net margin of 2,073.82%. As a group, research analysts predict that Forward Industries will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Forward Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in Forward Industries during the 2nd quarter worth approximately $739,000. ParaFi Capital LP bought a new position in shares of Forward Industries in the second quarter valued at approximately $684,000. Aristides Capital LLC bought a new position in shares of Forward Industries in the fourth quarter valued at approximately $180,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Forward Industries during the second quarter valued at approximately $88,000.

Forward Industries Company Profile

Forward Industries, Inc (NASDAQ: FWDI) is a product design, development and manufacturing company that creates solutions for medical, industrial, consumer electronics and other specialized markets. The company is known for developing protective and carrying products, including custom cases, bags, backpacks and related accessories designed to support the transportation and use of electronic and technical equipment.

Forward Industries serves original equipment manufacturers, distributors and other business customers through customized product development and manufacturing programs.