NXT-ID Inc (NASDAQ:NXTD)’s share price fell 1.2% during mid-day trading on Wednesday . The company traded as low as $2.53 and last traded at $2.57. 331,742 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,412,709 shares. The stock had previously closed at $2.60.
A number of brokerages have recently issued reports on NXTD. Maxim Group increased their price objective on shares of NXT-ID from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. ValuEngine upgraded shares of NXT-ID from a “sell” rating to a “hold” rating in a research note on Friday, December 1st.
The firm has a market capitalization of $58.88, a P/E ratio of -2.70 and a beta of -4.41. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.32 and a current ratio of 0.61.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of NXT-ID by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 76,010 shares of the technology company’s stock valued at $144,000 after buying an additional 1,609 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of NXT-ID in the 4th quarter valued at $100,000. Finally, Millennium Management LLC acquired a new position in shares of NXT-ID in the 4th quarter valued at $145,000. Institutional investors own 3.07% of the company’s stock.
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NXT-ID Company Profile
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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