NXT-ID Inc (NASDAQ:NXTD) shares rose 8% during mid-day trading on Wednesday . The stock traded as high as $2.78 and last traded at $2.69. Approximately 4,429,024 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 3,885,582 shares. The stock had previously closed at $2.49.
NXTD has been the topic of several analyst reports. Maxim Group reiterated a “buy” rating on shares of NXT-ID in a research note on Tuesday, November 21st. ValuEngine upgraded shares of NXT-ID from a “sell” rating to a “hold” rating in a research report on Friday, December 1st.
The firm has a market capitalization of $61.08, a PE ratio of -2.80 and a beta of -4.30. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.32 and a current ratio of 0.61.
A number of institutional investors have recently modified their holdings of NXTD. Virtu KCG Holdings LLC lifted its position in NXT-ID by 1,806.4% during the second quarter. Virtu KCG Holdings LLC now owns 256,052 shares of the technology company’s stock valued at $479,000 after purchasing an additional 242,621 shares during the period. Bank of Montreal Can bought a new position in NXT-ID during the fourth quarter valued at approximately $100,000. Finally, Vanguard Group Inc. lifted its position in NXT-ID by 2.2% during the second quarter. Vanguard Group Inc. now owns 76,010 shares of the technology company’s stock valued at $144,000 after purchasing an additional 1,609 shares during the period. Institutional investors own 2.74% of the company’s stock.
Nxt-ID, Inc is a technology company. The Company is focused on products, solutions and services for security on mobile devices. The Company’s core technologies consist of those that support digital payments, biometric identification, encryption, sensors and miniaturization. It has three lines of business: mobile commerce (m-commerce), primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting.
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