In a report released today, Michael Diana from Maxim Group maintained a Buy rating on NXT-ID Inc (NASDAQ: NXTD), with a price target of $4. The company’s shares opened today at $0.99, close to its 52-week low of $0.85.
Diana noted:
“On September 21, NXTD announced that it planned to separate its payments division (as well as its authentication and credential management business) from its healthcare division in a tax-free spin-off with a record date of an expected closing date of November 15. A new announcement – released this morning – indicates that the closing should be “towards the end of the year.”.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 4.3% and a 53.3% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
NXT-ID Inc has an analyst consensus of Moderate Buy, with a price target consensus of $4.
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The company has a one-year high of $8.59 and a one-year low of $0.85. Currently, NXT-ID Inc has an average volume of 323.1K.
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Nxt-ID, Inc. engages in the development of proprietary technology products and solutions. It focuses on security, healthcare, financial technology, and the Internet of Things markets.