FWDI — Forward Industries, Inc.

Stock analysis, trade plans, and proprietary indicators by Trend Edge.

About Forward Industries, Inc.

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. Read full Trend Edge analysis →

Trend Edge Proprietary Indicators

Key Metrics

Current Price$4.48
Market Cap$358M
Float80.8M
Shares Outstanding74.7M
P/E (Forward)44.44
Price/Sales (TTM)10.01
Operating Margin (TTM)44.87%
Revenue (TTM)$35.0M
Dividend RateNone

Financial History

Annual Revenue & Earnings History

YearRevenueNet IncomeGross ProfitEBITDA
2020 $34.5M -$1.8M $6.6M -$1.3M
2021 $39.0M $523,805 $8.1M $1.0M
2022 $42.3M -$1.4M $8.4M $897,709
2023 $36.7M -$3.7M $8.4M $598,806
2024 $30.2M -$2.0M $6.2M -$1.5M
2025 $18.2M -$167M $5.0M -$6.0M

Recent Quarterly Revenue & Net Income

QuarterRevenueNet Income
Mar 2025 $3.1M -$1.5M
Jun 2025 $2.5M -$850,022
Sep 2025 $6.0M -$164M
Dec 2025 $21.4M -$586M

Ownership & Float

Insider Ownership37.1%
Institutional Ownership33.7%
Short Float1.6%
% of All Funds Holding0.75%
Number of Funds Holding62

Current Moving Averages

Trend Edge tracks near-term, medium-term, cyclical, and secular moving averages across weekly and monthly timeframes to identify trend structure at every horizon.

TimeframeSMAValueTrend Context
Weekly10-Week SMA$4.57Near-term / short-term trend
Weekly40-Week SMA$10.51Medium-term trend
Weekly80-Week SMA$8.35Cyclical trend (business cycle)
Weekly200-Week SMA$8.56Secular trend (multi-year)
Monthly10-Month SMA$9.49Near-term monthly trend
Monthly20-Month SMA$7.67Medium-term monthly trend
Monthly40-Month SMA$7.46Secular monthly trend

Volume Shelves — Support & Resistance

Trend Edge identifies volume shelves: price zones where historically elevated trading volume creates structural support or resistance. A volume shelf forms when a disproportionate share of cumulative volume was transacted at a specific price level, making it a high-conviction anchor for future price reactions.

Price LevelTypeVolume RatioAge
$6.30 resistance 1.75x 2 months ago
$8.40 resistance 3.47x 4 months ago
$14.00 resistance 3.62x 5 months ago
$26.10 resistance 3.99x 6 months ago

Historical Earnings Reactions (89 events)

TimeframeAvg ReturnMedianWin RateBestWorst
Gap 0.31% 0.00% 47.19% 36.90% -26.34%
1 Day -1.22% -0.66% 33.71% 23.43% -32.35%
1 Week -2.74% -1.44% 39.33% 23.77% -37.06%
2 Weeks -3.36% -1.99% 34.83% 30.46% -28.08%
1 Month -0.13% -3.25% 43.82% 128.58% -37.14%

Next earnings: May 13, 2026

Seasonality & Day-of-Week Patterns

Monthly Seasonality

MonthAvg ReturnWin RateSamples
Jan19.3%78.1%32
Feb-1.6%34.4%32
Mar1.9%46.9%32
Apr0.9%46.9%32
May-2.5%38.7%31
Jun-2.1%45.2%31
Jul3.3%41.9%31
Aug3.4%45.2%31
Sep0.8%38.7%31
Oct-1.3%45.2%31
Nov-1.1%35.5%31
Dec-1.5%37.5%32

Day-of-Week Tendencies

DayAvg ReturnWin RateSamples
Monday -0.02% 41.4% 1489
Tuesday 0.16% 40.8% 1626
Wednesday 0.13% 41.7% 1625
Thursday 0.12% 39.5% 1592
Friday 0.48% 42.9% 1588

Top Institutional Holders

Institutional holder breakdown coming soon.

Total institutional ownership: 33.7%

Insider Transactions — Smart Summary

Total insider ownership: 37.1%

12-Month Insider Activity Summary

Total Filings3
Net Value+$78,240
Net Shares Change-6,153,324
% of Float-7.6%
C-Suite Filings2
Clusters Detected0

Key Insiders

NameTitleNet ValueFilingsActivity
Multicoin Capital Management, LLC -$27.4M 1 1 sell
Navi Ryan David Chief Investment Officer +$70,800 1 1 buy
Pruitt Michael D Chief Executive Officer +$7,440 1 1 buy

Significant Filings

DateInsiderTitleNet ValuePrice After
2025-12-22 Navi Ryan David Chief Investment Officer +$70,800 Transaction at $7.08, now -36.7%
2026-04-08 Multicoin Capital Management, LLC -$27.4M Transaction at $4.44, now +0.9%
2025-12-15 Pruitt Michael D Chief Executive Officer +$7,440 Transaction at $7.44, now -39.8%

View full insider transaction history on Trend Edge →

AI Consult Analysis

Trend Edge's AI Consult feature delivers a comprehensive, multi-layer trade plan for Forward Industries, Inc. (FWDI) powered by Claude Opus — Anthropic's most capable AI model. The analysis covers five layers: technical analysis (near-term, medium-term, cyclical, and secular trend, momentum, volume shelf support and resistance, breakout and breakdown signals), qualitative analysis (business model, competitive moat, sector dynamics), insider sentiment (buy and sell signals from executive and director transactions), share stats analysis (institutional accumulation, fund positioning, short float squeeze potential), and fundamental analysis (valuation, revenue growth, profit margin, earnings quality).

AI Consult synthesizes all five layers into a single bullish or bearish thesis with explicit entry, exit, stop loss, and take profit levels — giving you a complete, AI-powered trade plan with defined risk/reward. Whether you are building a long position, initiating a short, or looking for a reversal setup, AI Consult identifies the highest-probability signal from the current trend.

Get the full AI Consult analysis for FWDI on Trend Edge →