Shares of the Nxt-ID, Inc. (NXTD) stock were rising in the pre-market today without any obvious reason. NXTD stock price saw a push of 9.05% to reach $0.50 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 10.97% at closing. Let’s dig in to explore more of it.
What’s Happening?
There is no announcement or press release by the NXTD stock to justify the bullish sentiment. No analysts’ upgrades or increased targeted per share price of the NXTD stock have been in the recent news so far. It seems that the short squeeze phenomenon due to social media discussion is driving the stock price high today.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Nxt-ID, Inc mainly operates by providing products and services related to healthcare applications. It provides marketing solutions for the internet of things, payments, and healthcare applications. The stock was founded in 2011 and its headquarters are in Oxford, Connecticut.
Financial Update of NXTD stock in Second quarter 2021:
In the second quarter of 2021, Nxt-ID reported a 14% increased revenue of $2.8 million from the previous quarter. Gross profit reached $1.8 million, $0.2 million higher than the previous quarter. Operating expenses and operating loss for the second quarter were $2.0 million and $212,000 respectively. This compares to operating expenses and an operating loss of $2.3 million and $783,000 respectively in the previous quarter. NXTD suffered a net loss of $1.2 million or $0.02 per share in the recently reported quarter compared to $5.8 million or $0.12 per share in the previous quarter.
Financial Update of NXTD stock in First Half of 2021:
Nxt-ID stock generated $5.2 million in the first half of 2021, 16% lower than the same prior-year period. Gross profit decreased by 27% from last year to drop at $3.4 million in the first six months of 2021. Operating expenses increased by 19% from the first half of 2020 to reach $4.4 million in the same period of 2021. Operating loss of $1.0 million remained unchanged in the first of 2021. NXTD stock suffered a net loss of $6.9 million or $0.14 per share in the six months ended June 30, 2021. This compares to $280,000 or $0.01 per share net loss in the same period of the previous year.
Conclusion:
After dropping in the previous trade, NXTD stock is now moving high despite the absence of any recent news. Such rises and falls affect short-term investors however long-term investors don’t mind these rather they focus on the stock’s overall development. The 2021 performance of NXT-ID in terms of per-share price is not satisfactory as it lost almost 70% year to date. Hence investors should be mindful of all facts and figures before making any decision.
