B. Riley Financial Issues Positive Forecast for Forward Industries (NASDAQ:FWDI) Stock Price

Forward Industries (NASDAQ:FWDI) had its price objective hoisted by analysts at B. Riley Financial from $9.00 to $11.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price target would suggest a potential upside of 30.41% from the company’s current price.

Several other analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Forward Industries from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Weiss Ratings upgraded Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Finally, Cantor Fitzgerald upped their target price on Forward Industries from $8.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Two research 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. According to data from MarketBeat.com, Forward Industries presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Forward Industries Trading Up 3.2%

Shares of NASDAQ:FWDI traded up $0.27 on Tuesday, hitting $8.44. The company had a trading volume of 628,386 shares, compared to its average volume of 1,209,461. The stock has a market cap of $622.92 million, a price-to-earnings ratio of 69.79 and a beta of 0.88. The stock has a 50 day moving average price of $5.20 and a 200 day moving average price of $4.77. Forward Industries has a 1-year low of $3.48 and a 1-year high of $33.00.

Forward Industries (NASDAQ:FWDI) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.84). Forward Industries had a negative net margin of 2,073.82% and a negative return on equity of 18.05%. The firm had revenue of $10.78 million during the quarter. Sell-side analysts anticipate that Forward Industries will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Forward Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd bought a new position in shares of Forward Industries during the 2nd quarter worth approximately $88,000. Aristides Capital LLC bought a new position in shares of Forward Industries in the fourth quarter valued at approximately $180,000. ParaFi Capital LP purchased a new stake in shares of Forward Industries during the second quarter valued at approximately $684,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Forward Industries during the second quarter valued at approximately $739,000.

Forward Industries Company Profile

Forward Industries, Inc (NASDAQ: FWDI) is a product design, development and manufacturing company that creates solutions for medical, industrial, consumer electronics and other specialized markets. The company is known for developing protective and carrying products, including custom cases, bags, backpacks and related accessories designed to support the transportation and use of electronic and technical equipment.

Forward Industries serves original equipment manufacturers, distributors and other business customers through customized product development and manufacturing programs.