Cantor Fitzgerald Upgrades Forward Industries (NASDAQ:FWDI) to “Strong-Buy”

Forward Industries (NASDAQ:FWDI) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also recently commented on FWDI. Weiss Ratings raised shares of Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. B. Riley Financial reissued a “buy” rating on shares of Forward Industries in a report on Friday, May 15th. Wall Street Zen lowered shares of Forward Industries from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Zacks Research raised shares of Forward Industries to a “hold” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Forward Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.45.

Forward Industries Stock Performance

Shares of FWDI stock opened at $4.70 on Tuesday. The firm’s 50 day moving average is $4.44. The stock has a market capitalization of $351.00 million, a PE ratio of -2.29 and a beta of 0.79. Forward Industries has a twelve month low of $3.48 and a twelve month high of $46.00.

Institutional Trading of Forward Industries

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

About Forward Industries

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.