Anson Funds Management LP recently announced the acquisition of new stake in Nxt-ID Inc. (NASDAQ:NXTD). The institutional investor has increased its shareholding in the Industrials company by 43.85% to 2.26 million shares with purchase of 0.69 million shares. This fresh investment now brings its stake to 6.58% valued currently at $1.1 million. In addition, Red Oak Partners LLC raised its holdings by 1.53 million to 1.53 million shares. And Virtu Financial BD LLC has lifted its position by 350.33% or 43837.0 shares – to 56350.0 shares.
With over 1.93 million Nxt-ID Inc. (NXTD) shares trading Friday and a closing price of $0.42 on the day, the dollar volume was approximately $0.81 million. The shares have shown a negative weekly performance of -3.80% and its price on 08/28/20 lost nearly -0.02%. Currently, there are 30.34M common shares owned by the public and among those 27.21M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for NXTD have a consensus price objective of $0.35. The analysts have set the share’s price value over the next 12 months at a high of $0.35 and a low of $0.35 should the stock experience a downside. Incidentally, analysts’ outlook for the Nxt-ID Inc. stock is 3.00 for the next 12 months. But an upside of -20.0% will see the stock hit the forecast high price target while mean target price for the stock is $0.35.
Insiders at the company have transacted a total of 6 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 246,540 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Nxt-ID Inc. are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Fidelity Nasdaq Composite Index F. Vanguard Extended Market Index Fu owns 0.27 million shares of the company’s stock, all valued at over $0.13 million. Fidelity Nasdaq Composite Index F now owns shares totaling to 0.10% of the shares outstanding.
Shares of Nxt-ID Inc. (NASDAQ: NXTD) opened at $0.42, unchanged from a prior closing price of $0.42. However, the script later closed the day at $0.42, down -0.02%. The company’s stock has a 5-day price change of -3.80% and 7.79% over the past three months. NXTD shares are trading -7.11% year to date (YTD), with the 12-month market performance down to -2.77% lower. It has a 12-month low price of $0.21 and touched a high of $0.89 over the same period. Currently, 1.93 million shares have been traded, compared to an average intraday trading volume of 4.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -19.06%, -15.82%, and -4.02% respectively.
Institutional ownership of Nxt-ID Inc. (NASDAQ: NXTD) shares accounts for 16.10% of the company’s 30.34M shares outstanding. Mutual fund holders own 11.11%, while other institutional holders and individual stakeholders account for 11.98% and 1.26% respectively.
It has a market capitalization of $14.60M and a beta (3y monthly) value of -0.24. The earnings-per-share (ttm) stands at -$0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.33% over the week and 12.74% over the month.
Analysts forecast that Nxt-ID Inc. (NXTD) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.05 a year ago.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Nxt-ID Inc. (NXTD) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NXTD, a number of firms have released research notes about the stock. Maxim Group stated their Buy rating for the stock in a research note on November 20, 2017, with the firm’s price target at. Maxim Group coverage for the Nxt-ID Inc. (NXTD) stock in a research note released on April 20, 2017 offered a Buy rating with a price target of $4.25. Northland Capital was of a view on June 04, 2015 that the stock is Outperform, while Northland Capital gave the stock Outperform rating on September 30, 2014, issuing a price target of $6.