Zacks: NXT-ID Inc (NXTD) Given $4.00 Consensus Price Target by Brokerages

NXT-ID Inc (NASDAQ:NXTD) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokers have set a 12-month consensus price objective of $4.00 for the company, according to Zacks. Zacks has also assigned NXT-ID an industry rank of 92 out of 255 based on the ratings given to related companies.

Separately, EuroPacific Canada assumed coverage on NXT-ID in a research note on Thursday, May 31st. They issued a “buy” rating and a $5.00 price target on the stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NXTD. Millennium Management LLC bought a new stake in shares of NXT-ID in the 4th quarter valued at $145,000. Barclays PLC bought a new stake in shares of NXT-ID in the 1st quarter valued at $294,000. Finally, BlackRock Inc. increased its position 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 buying an additional 55,409 shares in the last quarter. Institutional investors and hedge funds own 4.62% of the company’s stock.

Shares of NXTD stock traded down $0.07 during trading hours on Friday, reaching $1.31. The company had a trading volume of 276,900 shares, compared to its average volume of 895,608. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.47 and a quick ratio of 0.93. NXT-ID has a 1-year low of $1.01 and a 1-year high of $8.59.

NXT-ID (NASDAQ:NXTD) last posted its quarterly earnings results on Wednesday, August 15th. The technology company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.04. The company had revenue of $5.18 million for the quarter. NXT-ID had a negative return on equity of 57.49% and a negative net margin of 46.89%.

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.

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