NXT-ID Inc (NXTD) Given Average Recommendation of “Strong Buy” by Brokerages
NXT-ID Inc (NASDAQ:NXTD) has earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Analysts have set a 12-month consensus price objective of $4.00 for the company, according to Zacks. Zacks has also given NXT-ID an industry rank of 82 out of 255 based on the ratings given to related companies.
Separately, EuroPacific Canada began coverage on NXT-ID in a report on Thursday, May 31st. They issued a “buy” rating and a $5.00 price objective for the company.
NXT-ID (NASDAQ:NXTD) last released its quarterly earnings results on Wednesday, August 15th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. NXT-ID had a negative return on equity of 57.44% and a negative net margin of 46.85%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC bought a new position in shares of NXT-ID in the 4th quarter valued at about $145,000. BlackRock Inc. grew its holdings in shares of NXT-ID by 1,571.9% in the 2nd quarter. BlackRock Inc. now owns 58,934 shares of the technology company’s stock valued at $102,000 after acquiring an additional 55,409 shares in the last quarter. Finally, Barclays PLC bought a new position in shares of NXT-ID in the 1st quarter valued at about $294,000. Institutional investors own 4.62% of the company’s stock.
NXT-ID Company Profile
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.
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