ParaFi Capital LP Makes New $684,000 Investment in Forward Industries, Inc. $FWDI

ParaFi Capital LP purchased a new stake in Forward Industries, Inc. (NASDAQ:FWDI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 162,164 shares of the company’s stock, valued at approximately $684,000. Forward Industries accounts for 0.2% of ParaFi Capital LP’s holdings, making the stock its 18th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wolverine Asset Management LLC acquired a new stake in shares of Forward Industries in the fourth quarter worth approximately $909,000. Squarepoint Ops LLC acquired a new position in Forward Industries during the fourth quarter worth approximately $577,000. XTX Topco Ltd acquired a new position in Forward Industries during the fourth quarter worth approximately $419,000. RBF Capital LLC purchased a new position in Forward Industries during the fourth quarter worth approximately $395,000. Finally, Man Group plc purchased a new position in Forward Industries during the fourth quarter worth approximately $264,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. B. Riley Financial lowered their price objective on shares of Forward Industries from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Cantor Fitzgerald increased their target price on Forward Industries from $7.90 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Wall Street Zen lowered Forward Industries from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.50.

Forward Industries Stock Up 0.8%

Shares of FWDI stock opened at $6.26 on Thursday. The stock has a market cap of $462.30 million, a price-to-earnings ratio of 52.17 and a beta of 0.88. Forward Industries, Inc. has a fifty-two week low of $3.48 and a fifty-two week high of $46.00. The firm’s 50 day moving average price is $4.59 and its two-hundred day moving average price is $4.57.

Forward Industries (NASDAQ:FWDI) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.84). Forward Industries had a negative return on equity of 18.05% and a negative net margin of 2,073.82%.The business had revenue of $10.78 million for the quarter. On average, equities analysts forecast that Forward Industries, Inc. will post -0.4 EPS for the current fiscal year.

Forward Industries 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.