Technology

NXT-ID Inc (NASDAQ:NXTD) Struggling to Hold Gains

NXT-ID Inc (NASDAQ:NXTD)

NXT-ID Inc (NASDAQ:NXTD)

NXT-ID Inc (NASDAQ:NXTD) shares have gapped up to open with over a 20% gain as of 9:35 AM EST at $1.84. The market is reacting to the biometric company’s quarterly and six-month preliminary financial release. Volume is heavy – about 40 times the daily average. However sellers moved in and proceeded to unload shares and shares of NXTD were down to $1.65 by 9:50 AM EST.

NXT-ID Inc (NASDAQ:NXTD)
5 day 15 minute candlebar graph for $NXTD

NXT-ID Inc (NASDAQ:NXTD) has three subsidiaries. LogicMark, LLC, manufactures and distributes non-monitored and monitored personal emergency response systems that are sold through dealers and the United States Department of Veterans Affairs. Fit Pay, Inc., a proprietary payment technology platform for device manufacturers that offer their users a secure service within the Internet of Things (IoT) ecosystem. Lastly, 3D-ID LLC develops biometric identification and authentication services.

NXT-ID Inc (NASDAQ:NXTD) revenue for Q2 2017 was approximately $7.6 million compared to $38,493 for the same period in previous year and approximately $6.7 million for Q1 2017. Gross profit for Q2 2017 was approximately $3.8 million compared to a gross loss of $(25,251) in Q2 2017 and a gross profit of $3.5 million for Q1 2017. Operating expenses were approximately $3.0 million in Q2 2017 compared to $2.3 million in Q2 2016. Operating expenses were approximately $2.5 million in Q1 2017.

NXT-ID Inc (NASDAQ:NXTD) revenue for the first six months of 2017 was approximately $14.3 million compared to $80,795 for the same period in previous year. Gross profit for the first six months of 2017 was approximately $7.3 million compared to a gross loss of $(58,374) for the same period in previous year. Operating expenses were approximately $5.5 million for the first six months of 2017 compared to $4.6 million for the same period in previous year. Operating income for the first six months of 2017 was approximately $1.8 million compared to an operating loss of $(4.6) million for the same period in previous year.

NXT-ID Inc (NASDAQ:NXTD) shares have not performed well in an up-market. YTD NXTD shares are down over 45%, and down over 66% for the year. In 2012, shares of NXT-ID Inc (NASDAQ:NXTD) had a minor loss of (-$0.10) per shares but that loss expanded over the next few years. In 2013, the loss was (-$-0.72), followed by a loss of (-$3.10), then a loss of (-$4.82). In 2016 the loss finally narrowed from the previous year to a loss of (-$2.24). On a positive note, NXT-ID Inc (NASDAQ:NXTD) reported $7.7 million in sales for 2016 – a gain of $7.1 million over thei 2015 figure.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $NXTD and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Previous ArticleNext Article
James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Leave a Reply

Your email address will not be published. Required fields are marked *