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Mackie Research Updates Coverage on NXT Energy Solutions - Video Posted on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - May 2, 2013) - Investment firm Mackie Research ...
About this update from Nxt Energy Solutions Inc.
[{"type":"text","content":"\nMackie Research Updates Coverage on NXT Energy Solutions - Video Posted on InvestmentPitch.com\n\nVancouver, British Columbia--(Newsfile Corp. - May 2, 2013) - Investment firm Mackie Research has updated its coverage on NXT Energy Solutions (TSXV: SFD). Following the release of the company's fourth quarter and December 31, 2012 year end results, analyst Raveel Afzaal reiterated his speculative buy recommendation, maintaining his target price of $1.60, giving a projected return of 167% from the $.0.60 price the day the report was issued. InvestmentPitch.com has produced a \"video news alert\" about NXT Energy Solutions based on this research report. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"NXT\" in the search box. If you cannot view the video above, please visit:http://www.investmentpitch.com/video/0_2swyt6lc/Mackie-Research--Updated-Coverage-on-NXT-Energy-Solutions-TSXV-SFDThe company reported revenue of $5.7 million for the fourth quarter, which was in line with Mackie's expectations. However, the EBITDA of $3 million was significantly above Mackie's conservative estimate of $1 million. The company realized record revenues of $11 million in 2012, compared with revenues of $145,000 for 2011, and net income of $2 million for 2012, compared to a net loss of $3.6 million for 2011. Using a Cessna 560 Citation jet, and flying at 300 miles per hour at 10,000 feet, the 2 systems record data at 2,000 cycles per second. NXT Energy uses the Stress Field Detector survey system to survey large tracts of land in order to identify and prioritize areas containing potential oil & gas reservoirs. The system can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. By looking at the gravitational field in a different way, new information about the subsurface can be revealed. The company's system is about 10 to 30 times cheaper than the cost of conducting a seismic survey, and can be conducted at a fraction of the time. The share price hit a high of $1.13 on the back of the PEMEX contract awarded in 2012. Since then, the share price has retreated primarily due to the absence of news. Analyst Raveel Afzaal stated, \"We are optimistic about NXT's prospects in securing a large contract with PEMEX in the near-term. We believe that a repeat contract w...