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Forward Industries, Inc. Stock: price and insider trades · United States
No insider purchase over the last 90 days. The latest was filed 22 Dec 2025.
Forward Industries, Inc.: what insiders have been doing
Forward Industries, Inc. is a Industrials company. Its directors and officers file their transactions with SEC (Form 4). The last twelve months, up to 18 October 2026, brought 9 filings signed by 5 insiders.
The flow runs one way only: 2 insiders bought (2 purchases totalling €67k) and nobody sold on the market. Unlike grants, an open-market purchase is paid for by the insider, at the market price. At €60k, the purchase published on 22 December 2025 by Navi Ryan David is the largest of the period. Among those who bought: 1 senior executive and 1 chief executive.
Within a 30-day window, 1 purchase overlapped with buying by a second insider. A cluster is several different insiders buying the same stock within a short window, a pattern studied more closely than a single purchase. The latest purchase dates back some time: it was published 300 days ago, on 22 December 2025. Typically, a trade is published a median of 6 days after it takes place. For comparison, the SEC allows two business days to file a Form 4.
With 9 filings in twelve months, the company is quieter than the median of 19 filings across the 5,812 companies we follow on the same exchange. Since 2021, the database holds 6 purchases and 16 sales by insiders of the company.
Other companies in the same sector with recent insider buying flagged by our signals: Tennant Co and Butler National Corp. This summary is built from SEC (Form 4) disclosures alone and does not predict where the share price will go.
Insider Decl.
33
Thresholds
n/a
Buy Volume
€85,683
6 ops. · all time
Sell Volume
€216,541
16 ops. · all time
Who traded when
BuySaleMichael D. Pruitt1 buy
Ryan David Navi1 buy
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Financial data
as of FY 2025FY ended September 2025 · cache
US$6.79
Analyst consensus
3 analystsUS$8.50Target US$11.83(+74%)US$16.00
Income statement
RevenueUS$18.2M
Gross profitUS$5.2M29% margin
EBITDA-US$168.7M-927% margin
Net income-US$167M-918.1% margin
Valuation
PER (forward)26.1x
P/Book1.1x
Beta0.85
Balance sheet & cash
Market capUS$518M
Total debtUS$2.5M
Free Cash Flow-US$4.5M
Debt / Equity25%
Profitability & ownership
ROE-461.4%
ROA2.0%
% insiders30.7%
% institutions42.8%
Last declaration on 17 August 2026
Declarations33 total
137,500 sharesCommon StockSEC:0001683168-26-006538:0
146,956 sharesCommon StockSEC:0001683168-26-006530:0
146,956 sharesCommon StockSEC:0001683168-26-006540:0
275,000 shares0Common StockSEC:0001683168-26-003048:0
6,164,324 shares@ US$4.449.1% of flowCommon Stock, par value $0.01 per shareSEC:0001104659-26-041000:0
382,085 shares0Common StockSEC:0001683168-26-001644:0
293,911 shares0Common StockSEC:0001683168-26-001643:0
10,000 shares@ US$7.08100.0% of flowCommon StockSEC:0001683168-25-009302:0
Canonical exit: 19 Mar 2026 (T+90)
1,000 shares@ US$7.44100.0% of flowCommon StockSEC:0001683168-25-009158:0
Canonical exit: 15 Mar 2026 (T+90)
7,947,843 shares@ US$18.50100.0% of flowCommon Stock, par value $0.01 per shareSEC:0001104659-25-089653:0
50,000 shares@ US$18.5099.6% of flowCommon StockSEC:0001683168-25-006866:0
400 shares@ US$1.020.0% of flowCommon StockSEC:0001683168-23-003777:0
Canonical exit: 22 Aug 2023 (T+90)
2,723 shares@ US$1.01290.3% of flowCommon StockSEC:0001683168-23-003701:0
Canonical exit: 21 Aug 2023 (T+90)
10,000 shares@ US$1.132727.2% of flowCommon StockSEC:0001683168-22-008579:0
Canonical exit: 19 Mar 2023 (T+90)
5,000 shares@ US$1.13100.0% of flowCommon StockSEC:0001683168-22-008580:0
Canonical exit: 20 Mar 2023 (T+90)
2,000 shares@ US$1.993.5% of flowCommon StockSEC:0001683168-21-006328:0
4,000 shares@ US$1.735.3% of flowCommon StockSEC:0001683168-21-006326:0
4,000 shares@ US$2.206.6% of flowCommon StockSEC:0001683168-21-005690:0
2,000 shares@ US$2.223.8% of flowCommon StockSEC:0001683168-21-005350:0
6,000 shares@ US$2.1339.6% of flowCommon StockSEC:0001683168-21-004785:0
30,000 shares@ US$1.1372.8% of flowCommon StockSEC:0001683168-21-004757:0
6,000 shares@ US$2.1811.2% of flowCommon StockSEC:0001683168-21-004730:0
6,000 shares@ US$2.366510.4% of flowCommon StockSEC:0001683168-21-004277:0
6,000 shares@ US$2.473612.4% of flowCommon StockSEC:0001683168-21-004158:0
6,000 shares@ US$2.610611.5% of flowCommon StockSEC:0001683168-21-003578:0
25 of 33 declarations
About Forward Industries, Inc.
Forward Industries, Inc. is a U.S.-based company listed on the NASDAQ market in the United States. The company was founded in 1961 in New York State and originally built its business around the design, sourcing, outsourced manufacturing, and distribution of protective solutions and accessories for electronic devices and specialized equipment. Over time, Forward developed a reputation as a niche provider of soft-goods products and in-box accessories, serving original equipment manufacturers and other branded clients.
Historically, the company’s operating model centered on carrying cases, bags, clips, hand straps, protective plates, and related accessories, along with product design, industrial design, and engineering support. Forward also relied on a global supply chain, with manufacturing largely outsourced and procurement managed internationally. This gave the company a service-oriented positioning: it was not just a product seller, but a design-and-supply partner able to support clients from concept through production and market launch.
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The most important recent development is the strategic pivot announced in 2025. According to the company’s official materials and its Form 10-K, Forward Industries moved to sell its OEM distribution segment and began transitioning away from its legacy accessories business. In September 2025, the company announced a large private financing led by Galaxy Digital, Jump Crypto, and Multicoin Capital to launch a Solana-focused treasury strategy. Management has described this shift as a move to become the world’s largest Solana treasury company, which materially changes the firm’s investment profile and risk exposure.
For investors, this means Forward Industries should now be viewed as a U.S. small-cap company in transition, with a legacy industrial and product-design base but an increasingly digital-asset-centered strategy. The company’s headquarters are in Hauppauge, New York. Its historical operations had international reach through sourcing and customer relationships, but the current strategic narrative is dominated by Solana treasury management rather than traditional manufacturing growth.
In practical terms, Forward Industries combines a long operating history, a legacy of outsourced product development, and a newly aggressive capital-allocation thesis tied to blockchain assets. That makes the stock highly unusual within the NASDAQ universe: part industrial heritage, part digital-asset treasury vehicle, and highly sensitive to execution, financing structure, and crypto-market conditions.
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