NXT-ID’s (NXTD) “Buy” Rating Reiterated at Maxim Group

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Maxim Group reaffirmed their buy rating on shares of NXT-ID (NASDAQ:NXTD) in a report released on Thursday. Maxim Group currently has a $2.00 price objective 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 On December 17, it was announced that the spin-off was delayed, and the October 17 record date was withdrawn, so NXTD shares now trade with the values of both LogicMark and PartX included.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.

Shares of NASDAQ:NXTD opened at $0.95 on Thursday. NXT-ID has a 12 month low of $0.53 and a 12 month high of $2.61. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.16 and a quick ratio of 0.97.

A hedge fund recently raised its stake in NXT-ID stock. Barclays PLC increased its stake in shares of NXT-ID Inc (NASDAQ:NXTD) by 577.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,612 shares of the technology company’s stock after acquiring an additional 60,190 shares during the period. Barclays PLC owned about 0.28% of NXT-ID worth $48,000 as of its most recent SEC filing. Institutional investors and hedge funds own 3.77% of the company’s stock.

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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