Forward Industries (NASDAQ:FWDI) Research Coverage Started at B. Riley Financial

B. Riley Financial started coverage on shares of Forward Industries (NASDAQ:FWDI) in a research report released on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $7.00 price target on the stock.

Several other equities analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forward Industries in a report on Friday, December 26th. Wall Street Zen raised 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 Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Forward Industries Trading Down 0.9%

Shares of Forward Industries stock opened at $4.62 on Thursday. Forward Industries has a twelve month low of $4.03 and a twelve month high of $46.00. The business has a fifty day simple moving average of $4.66. The company has a market capitalization of $384.11 million, a PE ratio of -1.24 and a beta of 0.77.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Galaxy Group Investments LLC purchased a new position in Forward Industries in the fourth quarter worth about $53,595,000. J Digital 6 LLC purchased a new stake in shares of Forward Industries during the fourth quarter valued at $52,535,000. Multicoin Capital Management LLC purchased a new stake in shares of Forward Industries during the fourth quarter valued at $52,535,000. Alyeska Investment Group L.P. purchased a new stake in shares of Forward Industries during the fourth quarter valued at $21,484,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Forward Industries during the fourth quarter valued at $8,919,000.

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.