Forward Industries, Inc. (FWDI)Consumer Cyclical | Footwear & Accessories | Austin, United States | NasdaqCM
4.11 USD
-0.18
(-4.196%) ⇩
(July 13, 2026, 4 p.m.
EDT)
After hours: 4.11 0.00 (-0.001%) ⇩ (July 13, 2026, 7:11 p.m. EDT) |
Hot Take ↕ | July 11, 2026, 6:13 a.m. EDT
The investment case here is fundamentally broken despite the hype surrounding the company's Solana treasury. While the firm holds over 7.5 million SOL and has expanded its crypto holdings, the business itself is hemorrhaging value. The stock trades at a forward P/E of 19.5x despite reporting negative earnings per share of -$31.38, a classic value trap where the market prices in permanent impairment. The balance sheet is precarious with a debt-to-equity ratio of 9.6x and a current ratio of just 0.4, meaning the company cannot cover its immediate liabilities without selling assets or raising capital. Furthermore, operating cash flow is negative at -$16.2 million, indicating the core footwear business is not generating enough liquidity to sustain operations or service debt. The recent 17% price jump was likely a speculative reaction to the crypto news, but the underlying fundamentals remain dire. With no dividend to provide income and a multi-year trajectory showing significant erosion, this is a speculative gamble on a turnaround that the current financials do not support. The heavy put option activity confirms that sophisticated traders see this as a high-risk asset likely to fall further. |
| Model | MAE |
|---|---|
| MSTL ✓ | 0.055203 |
| AutoTheta | 0.057202 |
| AutoARIMA | 0.067079 |
| AutoETS | 0.067081 |
| MSTL_79_97 | 0.067314 |
| MSTL_97 | 0.094535 |
| MSTL_79 | 0.103932 |
Forecast horizon: 60 days | Selected: MSTL
| Forecast Reliability | |
|---|---|
| Score | 28% |
| H-stat | 3.46 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.022 |
| Excess Kurtosis | 1.01 |
| Attribute | Value |
|---|---|
| Sector | Consumer Cyclical |
| Debt to Equity Ratio | 9.608 |
| Revenue per Share | 0.819 |
| Market Cap | 303,125,824 |
| Forward P/E | 18.68 |
| Beta | 0.80 |
| Website | https://forwardindustries.com |
As of July 11, 2026, 6:13 a.m. EDT: Speculators are heavily positioned for downside protection, with massive open interest in out-of-the-money puts (strikes $2.50-$7.50) expiring in late 2026 and early 2027. Call activity is sparse and concentrated near the money, while put volume significantly outweighs call volume in terms of implied positioning weight. This indicates a market consensus expecting further volatility or a decline, rather than a breakout.
| Attribute | Value |
|---|---|
| 52 Week Change | -0.51027393 |
| Address1 | 111 Congress Avenue |
| Address2 | Suite 500 |
| All Time High | 298.5 |
| All Time Low | 3.1 |
| Ask | 5.15 |
| Ask Size | 2 |
| Average Analyst Rating | 1.0 - Strong Buy |
| Average Daily Volume10 Day | 2,382,850 |
| Average Daily Volume3 Month | 1,239,522 |
| Average Volume | 1,239,522 |
| Average Volume10Days | 2,382,850 |
| Beta | 0.799 |
| Bid | 3.01 |
| Bid Size | 2 |
| Book Value | 7.226 |
| City | Austin |
| Compensation As Of Epoch Date | 1,767,139,200 |
| Country | United States |
| Crypto Tradeable | 0 |
| Currency | USD |
| Current Price | 4.11 |
| Current Ratio | 0.396 |
| Custom Price Alert Confidence | HIGH |
| Date Short Interest | 1,782,777,600 |
| Day High | 4.19 |
| Day Low | 4.02 |
| Debt To Equity | 9.608 |
| Display Name | Forward Industries |
| Earnings Call Timestamp End | 1,786,564,800 |
| Earnings Call Timestamp Start | 1,786,564,800 |
| Earnings Timestamp | 1,786,564,800 |
| Earnings Timestamp End | 1,786,564,800 |
| Earnings Timestamp Start | 1,786,564,800 |
| Ebitda | 8,400,799 |
| Ebitda Margins | 0.18737 |
| Enterprise To Ebitda | 40.863 |
| Enterprise To Revenue | 7.656 |
| Enterprise Value | 343,285,856 |
| Eps Forward | 0.22 |
| Eps Trailing Twelve Months | -31.38 |
| Esg Populated | 0 |
| Exchange | NCM |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 4.4144 |
| Fifty Day Average Change | -0.30439997 |
| Fifty Day Average Change Percent | -0.06895614 |
| Fifty Two Week Change Percent | -51.027393 |
| Fifty Two Week High | 46.0 |
| Fifty Two Week High Change | -41.89 |
| Fifty Two Week High Change Percent | -0.91065216 |
| Fifty Two Week Low | 3.48 |
| Fifty Two Week Low Change | 0.6300001 |
| Fifty Two Week Low Change Percent | 0.18103452 |
| Fifty Two Week Range | 3.48 - 46.0 |
| Financial Currency | USD |
| First Trade Date Milliseconds | 785,082,600,000 |
| Float Shares | 70,635,047 |
| Forward Eps | 0.22 |
| Forward P E | 18.681818 |
| Free Cashflow | 8,461,505 |
| Full Exchange Name | NasdaqCM |
| Full Time Employees | 60 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Gross Margins | 0.67263 |
| Gross Profits | 30,158,410 |
| Has Pre Post Market Data | 1 |
| Held Percent Insiders | 0.30802 |
| Held Percent Institutions | 0.35365 |
| Implied Shares Outstanding | 73,753,241 |
| Industry | Footwear & Accessories |
| Industry Disp | Footwear & Accessories |
| Industry Key | footwear-accessories |
| Is Earnings Date Estimate | 0 |
| Language | en-US |
| Last Fiscal Year End | 1,759,190,400 |
| Last Split Date | 1,718,668,800 |
| Last Split Factor | 1:10 |
| Long Business Summary | Forward Industries, Inc. operates as a Solana (SOL) focused digital asset treasury company. The company operates through Digital Assets and Design segments. The Digital Assets segment captures SOL-based yield generated by participating in the Solana network's staking protocol. The Design segment offers hardware and software product design and engineering services to customers located in the United States. The company was incorporated in 1961 and is based in Austin, Texas. |
| Long Name | Forward Industries, Inc. |
| Market | us_market |
| Market Cap | 303,125,824 |
| Market State | POSTPOST |
| Max Age | 86,400 |
| Message Board Id | finmb_356043 |
| Most Recent Quarter | 1,774,915,200 |
| Net Income To Common | -1,035,131,648 |
| Next Fiscal Year End | 1,790,726,400 |
| Non Diluted Market Cap | 316,401,403 |
| Number Of Analyst Opinions | 3 |
| Open | 4.15 |
| Operating Cashflow | -16,258,017 |
| Operating Margins | 0.18829 |
| Payout Ratio | 0.0 |
| Peg Ratio | 2.53 |
| Phone | 512 256 9040 |
| Post Market Change | -0.0012001991 |
| Post Market Change Percent | -0.029201925 |
| Post Market Price | 4.1088 |
| Post Market Time | 1,783,984,306 |
| Previous Close | 4.29 |
| Price Hint | 4 |
| Price To Book | 0.56877947 |
| Price To Sales Trailing12 Months | 6.760692 |
| Profit Margins | 0.0 |
| Quick Ratio | 0.359 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | EQUITY |
| Recommendation Key | strong_buy |
| Recommendation Mean | 1.0 |
| Region | US |
| Regular Market Change | -0.18 |
| Regular Market Change Percent | -4.1958 |
| Regular Market Day High | 4.19 |
| Regular Market Day Low | 4.02 |
| Regular Market Day Range | 4.02 - 4.19 |
| Regular Market Open | 4.15 |
| Regular Market Previous Close | 4.29 |
| Regular Market Price | 4.11 |
| Regular Market Time | 1,783,972,801 |
| Regular Market Volume | 780,268 |
| Return On Assets | 0.01648 |
| Return On Equity | -3.7298598 |
| Revenue Growth | 3.15 |
| Revenue Per Share | 0.819 |
| Sand P52 Week Change | 0.20847368 |
| Sector | Consumer Cyclical |
| Sector Disp | Consumer Cyclical |
| Sector Key | consumer-cyclical |
| Shares Outstanding | 73,753,241 |
| Shares Percent Shares Out | 0.0619 |
| Shares Short | 4,568,390 |
| Shares Short Previous Month Date | 1,780,012,800 |
| Shares Short Prior Month | 2,039,791 |
| Short Name | Forward Industries, Inc. |
| Short Percent Of Float | 0.071 |
| Short Ratio | 2.88 |
| Source Interval | 15 |
| State | TX |
| Symbol | FWDI |
| Target High Price | 8.5 |
| Target Low Price | 7.9 |
| Target Mean Price | 8.13333 |
| Target Median Price | 8.0 |
| Total Cash | 16,633,010 |
| Total Cash Per Share | 0.223 |
| Total Debt | 52,985,288 |
| Total Revenue | 44,836,508 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Eps | -31.38 |
| Trailing Peg Ratio | None |
| Triggerable | 1 |
| Two Hundred Day Average | 8.262 |
| Two Hundred Day Average Change | -4.152 |
| Two Hundred Day Average Change Percent | -0.5025417 |
| Type Disp | Equity |
| Volume | 780,268 |
| Website | https://forwardindustries.com |
| Zip | 78,701 |