NXT-ID Inc. (NASDAQ:NXTD) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 890,212 shares, an increase of 32.3% from the July 14th total of 672,996 shares. Based on an average trading volume of 378,326 shares, the days-to-cover ratio is currently 2.4 days. Approximately 8.7% of the shares of the company are sold short.

Separately, Maxim Group began coverage on shares of NXT-ID in a report on Thursday, April 20th. They issued a “buy” rating and a $4.25 price target on the stock.

NXT-ID (NXTD) opened at 1.57 on Friday. NXT-ID has a 12-month low of $1.21 and a 12-month high of $4.90. The firm has a 50-day moving average of $1.66 and a 200 day moving average of $1.82. The company’s market capitalization is $15.03 million.

NXT-ID (NASDAQ:NXTD) last posted its quarterly earnings results on Tuesday, May 16th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $6.68 million during the quarter. Analysts forecast that NXT-ID will post ($0.39) EPS for the current fiscal year.

A hedge fund recently raised its stake in NXT-ID stock. Virtu KCG Holdings LLC raised its stake in shares of NXT-ID Inc. (NASDAQ:NXTD) by 1,806.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,052 shares of the technology company’s stock after buying an additional 242,621 shares during the period. Virtu KCG Holdings LLC owned about 2.67% of NXT-ID worth $479,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.86% of the company’s stock.

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About NXT-ID

Nxt-ID, Inc is a technology company. The Company is focused on products, solutions and services for security on mobile devices. The Company’s core technologies consist of those that support digital payments, biometric identification, encryption, sensors and miniaturization. It has three lines of business: mobile commerce (m-commerce), primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting.

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