Forward Industries Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqCM:FWDI Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
19 Dec 25	BuyUS$70,800	Ryan Navi	Individual	10,000	US$7.08
15 Dec 25	BuyUS$7,440	Michael Pruitt	Individual	1,000	US$7.44
11 Sep 25	BuyUS$114,039,994	J Digital 6 Cayman Ltd.	Company	7,947,843	US$18.50
10 Sep 25	BuyUS$149,999,992	Galaxy Digital LP	Company	8,108,109	US$18.50
05 Sep 25	BuyUS$7,959	Jump Trading, LLC	Company	650	US$14.67
27 Aug 25	SellUS$0	Jump Trading, LLC	Company	550	US$12.73

Insider Trading Volume

Insider Buying: FWDI insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of FWDI?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	2,210,278	2.66%
VC/PE Firms	7,947,843	9.56%
General Public	31,099,317	37.4%
Institutions	41,881,599	50.4%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 7450.8%.

Top Shareholders

Top 25 shareholders own 60.06% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
9.75%	Galaxy Group Investments LLC	8,108,108	US$36.6m	0%	0.76%
9.56%	Multicoin Capital Management, LLC	7,947,843	US$35.9m	0%	44.27%
9.56%	J Digital 6 Cayman Ltd.	7,947,843	US$35.9m	0%	27.35%
4.23%	Ebt Group Holdings LLC	3,513,514	US$15.9m	0%	no data
3.92%	Jane Street Group, LLC	3,261,596	US$14.7m	-20%	0.02%
3.91%	Alyeska Investment Group, L.P.	3,250,161	US$14.7m	-7.5%	0.04%
2.58%	Galaxy Digital LP	2,143,341	US$9.7m	-73.6%	100.0%
1.66%	C/M Capital Partners, Lp	1,381,368	US$6.2m	0%	98.39%
1.63%	Polar Asset Management Partners Inc.	1,351,352	US$6.1m	0%	0.25%
1.63%	Pyahm Samani	1,351,352	US$6.1m	0%	no data
1.63%	Ghisallo Capital Management LLC	1,351,352	US$6.1m	0%	0.39%
1.62%	Marshall Wace LLP	1,346,595	US$6.1m	0%	0.01%
1.37%	The Vanguard Group, Inc.	1,135,272	US$5.1m	9,680%	no data
1.3%	Weiss Asset Management, LLC	1,081,082	US$4.9m	0%	0.1%
0.97%	Geode Capital Management, LLC	809,005	US$3.7m	9,880%	no data
0.9%	Steadfast Capital Management LP	745,951	US$3.4m	0%	0.06%
0.79%	Terence Wise	656,666	US$3.0m	93%	no data
0.65%	SkyBridge Capital II, LLC	540,541	US$2.4m	0%	0.16%
0.57%	Qube Research & Technologies Ltd	475,439	US$2.1m	3,080%	no data
0.49%	Citadel Advisors LLC	410,784	US$1.9m	-62%	no data
0.43%	Brevan Howard Capital Management LP	353,459	US$1.6m	0%	0.04%
0.25%	State Street Global Advisors, Inc.	210,491	US$951.4k	0%	no data
0.25%	Pantera Capital Partners LP	204,093	US$922.5k	-41.9%	0.48%
0.24%	Moore Capital Management, LP	200,000	US$904.0k	-26%	0.02%
0.19%	Northern Trust Global Investments	154,269	US$697.3k	0%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/02/23 18:16
End of Day Share Price	2026/02/23 00:00
Earnings	2025/12/31
Annual Earnings	2025/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Forward Industries, Inc. is covered by 2 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Anne Crow	Edison Investment Research
Richard Ryan	Oak Ridge Financial Services Group Inc.