In a report released today, Michael Diana from Maxim Group maintained a Buy rating on NXT-ID Inc (NXTD), with a price target of $2. The company’s shares closed yesterday at $1.
Diana said:
“2018, NXTD announced its intention to spin off its FitPay subsidiary (to be re-named PartX), and subsequently established a record date of October 17, 2018. On October 17, NXTD shares started trading without (any value for) PartX (that is, just reflecting the value of its healthcare subsidiary, LogicMark). 2018, it was announced that the spin-off was delayed, and the October 17 record date was withdrawn, so NXTD shares now trade with the values of both LogicMark and PartX included.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 5.9% and a 60.0% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
Currently, the analyst consensus on NXT-ID Inc is a Moderate Buy with an average price target of $2.
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The company has a one-year high of $2.12 and a one-year low of $0.53. Currently, NXT-ID Inc has an average volume of 330.1K.
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Nxt-ID, Inc. is a technology company, which engages in the development of hardware and software security systems and applications. The company focuses on the security, healthcare, financial technology, and the Internet of Things markets.
