NXT-ID (NXTD) Receives Buy Rating from Maxim Group

Maxim Group reaffirmed their buy rating on shares of NXT-ID (NASDAQ:NXTD) in a research note published on Thursday. Maxim Group currently has a $2.00 target price on the technology company’s stock.

“2018, NXTD announced its intention to spin off its Fit Pay subsidiary (to be re-named PartX), and subsequently established a record date of October 17. On October 17, NXTD shares started trading without (any value for) PartX (that is, just reflecting the value of its healthcare subsidiary, LogicMark). On December 17, it was announced that the spin-off was delayed, and the October 17 record date was withdrawn, so NXTD shares now trade with the values of both LogicMark and PartX included. A new record date has not yet been announced.”,” Maxim Group’s analyst commented.

NXT-ID stock traded up $0.02 during midday trading on Thursday, reaching $0.98. 17,510 shares of the company were exchanged, compared to its average volume of 254,976. NXT-ID has a 1 year low of $0.53 and a 1 year high of $2.61. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 0.77.

An institutional investor recently raised its position in NXT-ID stock. Barclays PLC raised its holdings in NXT-ID Inc (NASDAQ:NXTD) by 577.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,612 shares of the technology company’s stock after buying an additional 60,190 shares during the quarter. Barclays PLC owned approximately 0.28% of NXT-ID worth $48,000 at the end of the most recent quarter. 3.77% of the stock is owned by institutional investors and hedge funds.

About NXT-ID

Nxt-ID, Inc, a security technology company, engages in the development of products and solutions for security, healthcare, financial technology, and Internet of Things (IoT) markets. It offers non-monitored and monitored personal emergency response systems (PERS), including landline and cell-based options; the Fit Pay Trusted Payment Manager Platform (TPMP) that provides IoT and wearable devices with contactless payment capabilities and full digital wallet functionality; World Ventures Flye SmartCard, a smartcard customized for WorldVentures, the travel company; and Fit Pay General Purpose Reloadable Mastercard, which offers prepaid capabilities on wearable devices connected to the TPMP.

Featured Story: Net Margin – Understanding the Different Kinds of Profit

Receive News & Ratings for NXT-ID Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NXT-ID and related companies with MarketBeat.com's FREE daily email newsletter.