Forward Industries (NASDAQ:FWDI) Shares Up 2.7% – What’s Next?

Shares of Forward Industries, Inc. (NASDAQ:FWDI) shot up 2.7% during mid-day trading on Monday . The company traded as high as $4.65 and last traded at $4.63. 760,439 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 847,575 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FWDI. Weiss Ratings restated a “sell (d-)” rating on shares of Forward Industries in a report on Friday, December 26th. Wall Street Zen upgraded shares of Forward Industries from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Forward Industries Stock Performance

The firm has a market cap of $384.94 million, a price-to-earnings ratio of -1.24 and a beta of 0.77. The firm’s fifty day simple moving average is $4.72.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Barclays PLC bought a new position in Forward Industries in the 4th quarter worth $43,000. Vontobel Holding Ltd. bought a new position in Forward Industries in the 4th quarter worth $78,000. SummitTX Capital L.P. bought a new position in Forward Industries in the 4th quarter worth $81,000. nVerses Capital LLC bought a new position in Forward Industries in the 4th quarter worth $99,000. Finally, Cetera Investment Advisers bought a new position in Forward Industries in the 4th quarter worth $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.