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FWDI Stock Chart & Stats
$6.68
$0.20(5.14%)
At close: 4:00 PM EDT
$6.68
$0.20(5.14%)
Day’s Range― - ―
52-Week Range$3.48 - $20.11
Previous Close$4.2
Volume799.46K
Average Volume (3M)2.19M
Market Cap
$534.78M
Enterprise Value$471.07M
Total Cash (Recent Filing)$13.28M
Total Debt (Recent Filing)$118.51M
Price to Earnings (P/E)―
Beta-0.39
Next Earnings
Dec 17, 2026EPS Estimate
0.03Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-11.88
Shares Outstanding76,288,216
10 Day Avg. Volume1,860,046
30 Day Avg. Volume2,186,661
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.18
Price to Sales (P/S)95.48
P/FCF Ratio-383.52
Enterprise Value/Market Cap0.88
Enterprise Value/Revenue8.87
Enterprise Value/Gross Profit12.57
Enterprise Value/Ebitda-0.93
Forecast
1Y Price Target
$13.50Price Target Upside102.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.15
Revenue Forecast (FY)$61.63M
Bulls Say, Bears Say
Bulls Say
SOL Treasury GrowthRapid growth in SOL holdings and SOL per share shows that management is scaling the treasury strategy while seeking per-share accretion. If sustained, this can increase the company’s exposure to staking income, ecosystem opportunities, and long-term digital-asset asset growth.
Solana Ecosystem PositionA top-ten validator position gives Forward an operating role within the Solana ecosystem rather than merely passive asset exposure. Combined with staking rewards and network growth, this may support recurring ecosystem participation and strengthen strategic relevance over the next several quarters.
Revenue And Margin ExpansionThe sharp improvement in revenue and gross margin indicates meaningful operating traction during the strategy transition. Although the revenue mix is changing, stronger gross economics can provide greater capacity to fund treasury expansion, absorb operating costs, and build a more durable earnings base.
Bears Say
Severe GAAP LossesLarge fair-value losses and impairments create substantial earnings volatility and make reported profitability difficult to sustain. Even when described as non-cash, recurring remeasurement losses can weaken retained capital, complicate performance assessment, and reduce investor confidence in near-term earnings quality.
Cash Burn And Limited LiquidityPersistent operating and free-cash-flow deficits indicate that the business is consuming cash while pursuing an asset-heavy strategy. Modest cash relative to the treasury and debt base may constrain flexibility, increasing reliance on financing, asset liquidity, or continued access to capital markets.
SOL Concentration And VolatilityThe company’s growing concentration in SOL makes financial results highly sensitive to one digital asset’s market value. Strong network usage does not eliminate token-price risk, so prolonged weakness could reduce asset values, widen reported losses, and pressure financing and investment capacity.
Forward Industries News
FWDI FAQ
What was Forward Industries’s price range in the past 12 months?
Forward Industries lowest stock price was $3.48 and its highest was $20.11 in the past 12 months.
What is Forward Industries’s market cap?
Forward Industries’s market cap is $534.78M.
When is Forward Industries’s upcoming earnings report date?
Forward Industries’s upcoming earnings report date is Dec 17, 2026 which is in 56 days.
How were Forward Industries’s earnings last quarter?
Forward Industries released its earnings results on Aug 12, 2026. The company reported -$0.8 earnings per share for the quarter, missing the consensus estimate of $0.033 by -$0.833.
Is Forward Industries overvalued?
According to Wall Street analysts Forward Industries’s price is currently Undervalued.
Does Forward Industries pay dividends?
Forward Industries does not currently pay dividends.
What is Forward Industries’s EPS estimate?
Forward Industries’s EPS estimate is 0.03.
How many shares outstanding does Forward Industries have?
Forward Industries has 76,288,216 shares outstanding.
What happened to Forward Industries’s price movement after its last earnings report?
Forward Industries reported an EPS of -$0.8 in its last earnings report, missing expectations of $0.033. Following the earnings report the stock price went down -5.909%.
Which hedge fund is a major shareholder of Forward Industries?
Currently, no hedge funds are holding shares in FWDI
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
Forward Industries Stock Smart Score
Underperform
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Analyst Consensus
Moderate Buy
Average Price Target:
$13.50 (102.10% Upside)
$13.50 (102.10% Upside)
Blogger Sentiment
Neutral
FWDI Sentiment 67%
Sector Average 61%
Sector Average 61%
Hedge Fund Trend
Decreased
By 32.4K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Negative
Last 7 Days ▼ 7.7%
Last 30 Days ▲ 2.1%
Last 30 Days ▲ 2.1%
Technicals
SMA
Positive
20 days / 200 days
Momentum
-65.53%
12-Months-Change
Fundamentals
Return on Equity
-130.50%
Trailing 12-Months
Asset Growth
7164.42%
Trailing 12-Months
Learn more about TipRanks Smart Score
Company Description
Forward Industries
Forward Industries, Inc. operates through two segments: Digital Assets and Design. The company's primary strategy is focused on its Digital Assets segment, which acquires, holds, and stakes Solana (SOL) and other digital assets, adopting SOL as its main treasury reserve asset. The Design segment provides hardware and software product design and engineering services to customers in the medical and technology sectors.
FWDI Company Deck
FWDI Earnings Call
Q3 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call emphasized strong operational progress: rapid SOL per share compounding (9% QoQ, 36% annualized), meaningful accumulation of SOL (7.0M → 7.6M in the quarter and ~7.8M as of Aug 3), index inclusion (Russell 2000/3000), substantial revenue and gross margin improvement, and strategic RWA investments (OnRe) to diversify dollar-denominated yield. Offsetting these positives were large GAAP mark-to-market losses and an impairment leading to a $69M net loss, increased SG&A versus the prior year, price volatility of SOL despite ecosystem growth, and relatively modest cash on hand. Management frames the losses as non‑cash fair-value movements and reiterates a long-term, accretive SOL-per-share strategy, low-cost financing (2.6% average), and active capital deployment (buybacks, ATM issuances, M&A pipeline). On balance, operational momentum and strategic execution appear to meaningfully outweigh the quarter’s mark-to-market-driven negatives, though investors face continued volatility and clarity needs on some disclosure items.View all FWDI earnings summariesFWDI Stock 12 Month Forecast
Average Price Target
$13.50
▲(102.10% Upside)
Technical Analysis
Ownership Overview
6.02% Insiders
1.03% Mutual Funds
0.05% Other Institutional Investors
85.64% Public Companies and
Individual Investors