Forward Industries (NASDAQ:FWDI) Raised to “Hold” at Wall Street Zen

Forward Industries (NASDAQ:FWDI) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

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

Forward Industries Price Performance

NASDAQ:FWDI opened at $4.68 on Friday. Forward Industries has a twelve month low of $3.60 and a twelve month high of $46.00. The firm has a market cap of $389.10 million, a price-to-earnings ratio of -1.25 and a beta of 0.76. The business’s 50 day moving average is $5.69.

Institutional Trading of Forward Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Aristides Capital LLC bought a new stake in shares of Forward Industries during the fourth quarter worth $180,000. Galaxy Group Investments LLC bought a new position in shares of Forward Industries in the 4th quarter valued at $53,595,000. XTX Topco Ltd acquired a new stake in shares of Forward Industries during the 4th quarter valued at $419,000. nVerses Capital LLC acquired a new stake in shares of Forward Industries during the 4th quarter valued at $99,000. Finally, SummitTX Capital L.P. bought a new stake in Forward Industries during the 4th quarter worth $81,000.

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.