Cantor Fitzgerald Boosts Forward Industries (NASDAQ:FWDI) Price Target to $8.00

Forward Industries (NASDAQ:FWDI) had its price objective lifted by equities research analysts at Cantor Fitzgerald from $7.90 to $8.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 81.82% from the company’s current price.

Several other analysts have also recently issued reports on FWDI. Wall Street Zen cut Forward Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. B. Riley Financial reaffirmed a “buy” rating on shares of Forward Industries in a research report on Friday, May 15th. Zacks Research upgraded Forward Industries to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings upgraded Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.50.

Forward Industries Stock Up 2.8%

Shares of FWDI opened at $4.40 on Thursday. The stock has a market capitalization of $328.59 million, a P/E ratio of -2.15 and a beta of 0.81. Forward Industries has a twelve month low of $3.48 and a twelve month high of $46.00. The firm has a fifty day simple moving average of $4.23 and a two-hundred day simple moving average of $4.63.

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 analysts’ consensus estimates of $0.04 by ($0.84). The firm had revenue of $10.78 million during the quarter. Forward Industries had a negative net margin of 2,305.12% and a negative return on equity of 21.42%. Sell-side analysts expect that Forward Industries will post -0.3 EPS for the current fiscal year.

Institutional Trading of Forward Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC bought a new stake in Forward Industries during the 4th quarter valued at approximately $43,000. Vontobel Holding Ltd. purchased a new stake in Forward Industries in the fourth quarter worth $78,000. SummitTX Capital L.P. purchased a new position in Forward Industries during the fourth quarter valued at $81,000. nVerses Capital LLC bought a new stake in shares of Forward Industries during the 4th quarter valued at $99,000. Finally, Cetera Investment Advisers bought a new position in shares of Forward Industries in the 4th quarter worth about $111,000.

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.