Maxim Group analyst Michael Diana maintained a Buy rating on NXT-ID Inc (NASDAQ: NXTD) today and set a price target of $4. The company’s shares opened today at $1.33, close to its 52-week low of $1.01.
“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 that it expects to close by November 15. The intention is to create two pure-play companies, and thereby unlock shareholder value. Current NXTD CEO Gino Pereira will remain CEO of NXDT (containing the healthcare division), and current NXTD COO Michael Orlando will be CEO of the new (as-yet unnamed) company (containing the payments division).”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 6.7% and a 60.4% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NXT-ID Inc with a $4 average price target.
The company has a one-year high of $8.59 and a one-year low of $1.01. Currently, NXT-ID Inc has an average volume of 327.8K.
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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.