Forward Industries (NASDAQ:FWDI) Shares Climb 7.9% – Still a Buy?

Forward Industries, Inc. (NASDAQ:FWDI) shares traded up 7.9% on Wednesday. The stock traded as high as $7.52 and last traded at $7.5620. 985,158 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 1,291,840 shares. The stock had previously closed at $7.01.

Analyst Ratings Changes

A number of analysts have recently weighed in on FWDI shares. Weiss Ratings raised shares of Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald raised their price target on Forward Industries from $8.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. Wall Street Zen raised Forward Industries from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Finally, B. Riley Financial increased their price objective on Forward Industries from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Forward Industries presently has a consensus rating of “Hold” and an average target price of $13.50.

Forward Industries Price Performance

The company has a market capitalization of $560.45 million, a P/E ratio of 63.24 and a beta of 0.84. The stock’s 50 day simple moving average is $6.66 and its two-hundred day simple moving average is $5.19.

Forward Industries (NASDAQ:FWDI) last posted its earnings results on Wednesday, August 12th. The company reported ($0.80) earnings per share 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. As a group, equities research analysts expect that Forward Industries, Inc. will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Forward Industries

Several institutional investors and hedge funds have recently made changes to their positions in FWDI. Bank of New York Mellon Corp bought a new stake in shares of Forward Industries during the second quarter valued at approximately $739,000. ParaFi Capital LP bought a new stake in Forward Industries during the 2nd quarter worth approximately $684,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Forward Industries during the 2nd quarter valued at about $88,000.

About Forward Industries

Forward Industries is a Solana (SOL) focused digital asset treasury company with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols and businesses. The company’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL. Additionally, Forward Industries engages with, provides tools to, and invests in the Solana protocol, Solana developers, and Solana-related projects to further develop the SOL ecosystem.

In September 2025, Forward Industries announced a $1.65 billion private investment in public equity offering led by Galaxy Digital, Jump Crypto, and Multicoin Capital with participation with C/M Capital Partners, LP, one of Forward Industries’ largest existing Shareholders, to initiate a Solana-focused digital asset treasury strategy and further align the company with the fast-growing Solana ecosystem.