NXT-ID (NXTD) Stock Price Down 10.6%

Shares of NXT-ID Inc (NASDAQ:NXTD) dropped 10.6% during trading on Tuesday . The company traded as low as $2.91 and last traded at $2.94. Approximately 2,427,987 shares changed hands during trading, a decline of 41% from the average daily volume of 4,113,873 shares. The stock had previously closed at $3.29.

NXTD has been the subject of a number of research reports. Maxim Group reiterated a “buy” rating on shares of NXT-ID in a research report on Tuesday, November 21st. ValuEngine upgraded 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 $66.76, a PE ratio of -3.06 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 hedge fund recently raised its stake in NXT-ID stock. Virtu KCG Holdings LLC boosted its position in shares of NXT-ID Inc (NASDAQ:NXTD) by 1,806.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 256,052 shares of the technology company’s stock after acquiring an additional 242,621 shares during the quarter. Virtu KCG Holdings LLC owned 2.67% of NXT-ID worth $479,000 at the end of the most recent reporting period. 2.74% of the stock is owned by institutional investors and hedge funds.

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About NXT-ID

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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