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76 /100
CRITICAL RISK
Score updated Oct 13, 2026

FWDI — Forward Industries, Inc. Dilution Risk Tracker

Track FWDI dilution risk with DilutionWatch's stock tracker. DilutionScore™ measures dilution risk across 5 factors — lower scores indicate higher risk of share dilution.

⚠️ Not financial advice. Do your own research before making any investment decisions.

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As of October 13, 2026, Forward Industries, Inc. (FWDI) has a DilutionWatch DilutionScore of 76/100, rated CRITICAL dilution risk. Forward Industries, Inc. has a market capitalization of $530.96M, 73.85M shares outstanding, 7 institutional holders tracked. Stored dilution-related fields include 26.36M outstanding warrants.

This page includes automatically generated factual summaries from DilutionWatch data. It is not financial advice, not investment research, and not a recommendation. Do your own research. Read the full disclaimer and terms of service.

Score Breakdown

📋 Offering Ability
80
💰 Cash Runway
65
📊 Float Risk
15
⚠️ Warrant Exposure
90
🔄 Convertible Debt
40

Dilution Forecast

⛈️
Warning
High probability of dilution event
model est. 37%
📜 Warrant Exercise model 60%
• Massive warrant overhang: 36% of shares outstanding
• Warrant risk score very high (90/100)
💰 Capital Raise model 15%
• Under 12 months cash (9mo)
📉 Score Deterioration model 15%
• Score already CRITICAL (76/100) — events likely imminent
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Market Data

Market Cap$530.96M
Shares Outstanding73.85M
Float72.54M
Cash$6.02M
DebtN/A
Short InterestN/A

Source-Backed Evidence Depth

This public preview uses stored DilutionWatch fields and linked SEC/market records only. Missing values are not estimated.

FieldCurrent ValueBasis
DilutionScore76/100DilutionWatch score record
Shares Outstanding73.85MVerified float table or market cache
Public Float72.54MVerified float table or market cache
Market Cap$530.96MMarket data cache
Cash Runway8.6 monthsDilutionWatch score inputs
Shelf CapacityNone in current score inputsSEC-derived dilution fields
ATM CapacityNone in current score inputsSEC-derived dilution fields
Outstanding Warrants26.36MSEC-derived dilution fields

Recent source-backed SEC insight records available on this page: 6.

Recent SEC source mix: 3 3, 4 1, 8-K 1, XBRL 1.

The page does not infer future share issuance, financing probability, cash needs, management intent, or price impact when source fields are absent.

Institutional Holdings

QoQ: ↓ 46.0% shares (2026Q1 vs prior)
7 institutional holders · 24.33M shares
#1 Galaxy Group Investments LLC 16.22M shares
#2 J Digital 6 LLC 7.95M shares
#3 MORGAN STANLEY 84.5K shares
+ 4 more holders Sign up free to view →

Institutional holder totals are aggregated from ownership filings and may use a different share basis or reporting date than public float. They are not a reconciliation against tradeable float.

Short Interest

Short Interest4.60M
Days to Cover1.8
% of Float6.3%
FINRA data as of Sep 30, 2026

Recent SEC Activity

xbrl XBRL WARRANT 2026-08-12
8-K 8K EVENT 2026-04-17
4 INSIDER TRANSACTION 2026-04-17
3 FORM3 2026-04-13
3 FORM3 2026-03-13
Full SEC filing analysis available with free account →

Recent News

No recent news available for this ticker.

Factual FWDI Dilution Snapshot

Forward Industries, Inc. (FWDI) has a DilutionScore of 76/100, rated Critical dilution risk. Score date: October 13, 2026.

This automatically generated snapshot is assembled from stored DilutionWatch data fields and may contain data-source errors or omissions. It is not financial advice, not investment research, and not a recommendation. Do your own research and review the full disclaimer and terms of service.

DilutionScore History — Last 90 Days

FWDI's DilutionScore is currently 76/100 (Critical risk), with 3 score changes tracked over 89 days. The score improved from 67/100 (High risk).

Period Score Risk Level Duration
Sep 28 – Oct 13, 202676/100CRITICAL16 days
Sep 27, 202667/100HIGH1 day
Sep 06 – Sep 26, 202655/100HIGH21 days
Jul 16 – Sep 05, 202667/100HIGH51 days

Score recalculated daily from SEC filings and market data. Sign up free for real-time score change alerts.

Share Dilution History

FWDI shares outstanding have decreased 7.4% from 83.14M (Mar 2026) to 76.98M (Apr 2026). Each increase represents potential dilution to existing shareholders.

Date Shares Outstanding Public Float Change
Apr 11, 202676.98M80.75M▲ 11.89%
Mar 23, 202683.14M72.17M▼ 1.11%

Share counts sourced from verified regulatory filings. Increases indicate dilution events.

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