Forward Industries, Inc. (FWDI) Stock Price & Analysis
Forward Industries, Inc. (FWDI) closed at USD 7.15 on Thursday, October 15, 2026, up 5.30% on the day. The US market is currently closed; this is not a live price.
The prior close was USD 6.79; the Oct 15, 2026 session ranged USD 6.42–7.18 on volume of 1,793,734 shares. Market capitalization is $545.46M, with a 52-week range of USD 3.48–22.97 (NCM). Source: Nexqual, retrieved October 16, 2026 at 05:20 UTC.
Also available as compact Markdown for AI agents: nexqual.com/FWDI.md
Key facts (FWDI)
- Last four reported quarters (through Jun 30, 2026): revenue $53.1M, net income -$1.10B (-2073.8% margin) (SEC filings).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 11.83 (range 8.5–16).
- Total return with dividends: 1Y -71.0% vs S&P 500 +18.1%; 5Y -67.3% vs S&P 500 +85.1%.
- Next earnings: 2026-08-12, EPS estimate USD 0.02, revenue estimate $12.5M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (FWDI)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $39.0M | $38.2M | $36.7M | $20.0M | $18.2M | $53.1M |
| Gross profit | $8.1M | $8.8M | $8.4M | $5.2M | $5.2M | — |
| Operating income | -$765K | $588K | $160K | -$2.2M | -$8.4M | -$941M |
| Net income | $524K | -$1.4M | -$3.7M | -$2.0M | -$167M | -$1.10B |
| EPS (diluted) | $0.50 | -$1.40 | -$3.39 | -$1.77 | -$24.59 | — |
| Free cash flow | -$596K | $1.4M | $905K | $455K | -$4.5M | -$18.4M |
| Gross margin | 20.8% | 23.0% | 22.8% | 25.9% | 28.5% | — |
| Operating margin | -2.0% | 1.5% | 0.4% | -10.8% | -46.1% | -1771.6% |
| Net margin | 1.3% | -3.6% | -10.2% | -9.8% | -918.1% | -2073.8% |
| Revenue growth | +13.2% | -2.1% | -4.0% | -45.5% | -9.0% | — |
| Cash + short-term investments | $1.4M | $2.6M | $2.8M | $2.8M | $38.2M | — |
Fiscal years end Sep. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (FWDI)
P/S 10.3x · P/B 1.1x · FCF yield -3.37% · Earnings yield -201.97%
Analysts (FWDI)
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 11.83 (low 8.5, high 16).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-22 | B. Riley Securities | Target raised | Buy | $9 → $11 |
| 2026-09-10 | Cantor Fitzgerald | Target raised | Overweight | $8 → $16 |
| 2026-09-03 | B. Riley Securities | Target raised | Buy | $7 → $9 |
| 2026-08-13 | B. Riley Securities | Target lowered | Buy | $8 → $7 |
| 2026-08-13 | Cantor Fitzgerald | Target raised | Overweight | $7.9 → $8 |
| 2026-07-01 | Cantor Fitzgerald | Initiated | Overweight | $7.9 |
Total return (dividends reinvested) (FWDI)
| 1Y (from 2025-10-16) | 5Y (from 2021-10-11) | |
|---|---|---|
| Total return | -71.0% | -67.3% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -71.2% | -20.0% |
| Volatility (annualized) | 95.4% | 86.5% |
| Max drawdown | -85.7% (Oct 2025→Jun 2026) | -89.8% (Sep 2025→Jun 2026) |
Key Statistics (as of October 16, 2026 at 05:20 UTC)
| Price | USD 7.15 |
|---|---|
| Change | ▲ 5.30% (up) |
| Previous Close | USD 6.79 |
| Open | USD 6.53 |
| Day Range | USD 6.42 – 7.18 |
| 52-Week Range | USD 3.48 – 22.97 |
| Volume | 1,793,734 shares |
| Market Cap | $545.46M |
| Exchange | NCM |
Technical Analysis (FWDI)
Nexqual's technical model rates FWDI "NEUTRAL" based on 3 bullish and 2 bearish signals across 127 daily candles, as of October 16, 2026 at 05:20 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 49.1 (neutral) |
| vs SMA50 | Above (USD 6.46) |
| MACD | 0.14 (positive) |
Analyst Ratings (FWDI)
Wall Street analysts rate FWDI "Buy" based on 3 analysts, with a mean price target of USD 11.83 (range USD 8.5–16), per Nexqual as of October 16, 2026 at 05:20 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 3 |
| Mean Target | USD 11.83 |
| High Target | USD 16 |
| Low Target | USD 8.5 |
| Buy / Hold / Sell | 3 / 0 / 0 |
Earnings (FWDI)
| Next Earnings Date | 2026-08-12 |
|---|---|
| EPS Estimate | USD 0.02 |
| Revenue Estimate | $12.48M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.01 vs est 0.04 ▼ miss |
| 2026-03-31 | USD 0.03 vs est 0.03 ▲ beat |
Source: Nexqual, October 16, 2026 at 05:20 UTC.
Financials & Fundamentals (FWDI)
| Total Revenue | $53.12M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +332.10% |
| Gross Margin | +70.56% |
| Operating Margin | -6.75% |
| Profit Margin | +0.00% |
| ROE | -461.37% |
| Debt / Equity | 0.25 |
| Current Ratio | 0.17 |
| Total Cash | $13.28M |
| Total Debt | $118.51M |
Source: Nexqual, October 16, 2026 at 05:20 UTC.
Financial Health Score (FWDI)
Nexqual rates Forward Industries, Inc.'s overall financial health "Weak" across five dimensions, as of October 16, 2026 at 05:20 UTC.
| Growth | Critical — Revenue -100% YoY (annual), sharp decline |
|---|---|
| Profitability | Weak — Not yet profitable — scaling phase |
| Balance Sheet | Solid — $13M cash vs $119M debt |
| Cash Flow | N/A — Not meaningful for banks and lenders: lending and trading move operating cash flow by billions each year (SEC industry: Finance Services) |
| Efficiency | Critical — ROE -461%, ROA 2.0% |
Ownership (FWDI)
| Insider Ownership | +30.72% |
|---|---|
| Institutional Ownership | +42.80% |
| Shares Outstanding | 76.29M |
| Float | 61.30M |
| Short % of Float | +6.87% |
Source: Nexqual, October 16, 2026 at 05:20 UTC.
Leadership (FWDI)
Forward Industries, Inc. is led by Michael D. Pruitt (age 64), Interim CEO & Director, per Nexqual as of October 16, 2026 at 05:20 UTC.
| Interim CEO & Director | Michael D. Pruitt (age 64) |
|---|---|
| Chief Financial Officer | Brazier Mark Christopher (age 47) |
Major Backers & Investors (FWDI)
Notable institutional backers of Forward Industries, Inc. include Galaxy Digital Inc., J Digital 6 LLC, Alyeska Investment Group, L.p., according to Nexqual as of October 16, 2026 at 05:20 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Galaxy Digital Inc. | 10.98% |
| J Digital 6 LLC | 10.76% |
| Alyeska Investment Group, L.p. | 4.4% |
| Fidelity | 1.5% |
| Ghisallo Capital Management, LLC | 1.36% |
| Long Corridor Asset Management Ltd | 1.35% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 8.2% |
| Vanguard Group | 7.22% |
| Geode Capital | 2.63% |
| State Street | 1.34% |
Source: Nexqual, October 16, 2026 at 05:20 UTC.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| WEYS | Weyco Group, Inc. | USD 52.11 | ▼ 1.18% |
| FOSL | Fossil Group, Inc. | USD 6.88 | ▼ 3.78% |
| RCKY | Rocky Brands, Inc. | USD 46.68 | ▲ 2.21% |
| DBI | Designer Brands Inc. | USD 6.42 | ▲ 9.56% |
| WWW | Wolverine World Wide, Inc. | USD 20.02 | ▲ 5.09% |
| SHOO | Steven Madden, Ltd. | USD 46.24 | ▲ 3.33% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 16, 2026 at 05:20 UTC. This page is informational and not investment advice.
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