Forward Industries (NASDAQ:FWDI) Upgraded at B. Riley Financial

B. Riley Financial upgraded shares of Forward Industries (NASDAQ:FWDI) to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Forward Industries in a research note on Friday, December 26th. Wall Street Zen raised Forward Industries from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.00.

Forward Industries Trading Down 0.9%

NASDAQ FWDI opened at $4.62 on Wednesday. The business’s fifty day simple moving average is $4.66. Forward Industries has a twelve month low of $4.03 and a twelve month high of $46.00. The stock has a market cap of $384.11 million, a PE ratio of -1.24 and a beta of 0.77.

Institutional Investors Weigh In On Forward Industries

A number of hedge funds and other institutional investors have recently modified their holdings of FWDI. Barclays PLC purchased a new position in shares of Forward Industries during the 4th quarter worth approximately $43,000. Vontobel Holding Ltd. purchased a new position in shares of Forward Industries during the 4th quarter worth approximately $78,000. SummitTX Capital L.P. purchased a new position in shares of Forward Industries during the 4th quarter worth approximately $81,000. nVerses Capital LLC purchased a new position in shares of Forward Industries during the 4th quarter worth approximately $99,000. Finally, Cetera Investment Advisers purchased a new position in shares of Forward Industries during the 4th quarter worth approximately $111,000.

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.