Forward Industries (NASDAQ:FWDI) Announces Earnings Results

Forward Industries (NASDAQ:FWDI) issued its quarterly earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, Zacks reports. Forward Industries had a negative net margin of 918.04% and a negative return on equity of 46.10%.

Forward Industries Stock Down 1.4%

Shares of NASDAQ:FWDI traded down $0.07 during trading on Thursday, hitting $4.85. 871,834 shares of the company were exchanged, compared to its average volume of 888,345. Forward Industries has a fifty-two week low of $3.32 and a fifty-two week high of $46.00. The firm has a market capitalization of $405.66 million, a price-to-earnings ratio of -1.09 and a beta of 0.73.

Institutional Trading of Forward Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Forward Industries in the fourth quarter valued at $161,000. Aristides Capital LLC bought a new stake in shares of Forward Industries in the 4th quarter valued at about $180,000. State of Wyoming acquired a new stake in Forward Industries in the 4th quarter valued at about $189,000. Goldman Sachs Group Inc. bought a new position in Forward Industries during the fourth quarter worth about $540,000. Finally, SkyBridge Capital II LLC acquired a new position in Forward Industries during the fourth quarter worth approximately $3,573,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Forward Industries in a report on Friday, December 26th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

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.