authID (NASDAQ:AUID) Stock Price Up 8.3% – Here’s Why

authID Inc. (NASDAQ:AUID)’s stock price rose 8.3% during trading on Thursday . The stock traded as high as $1.37 and last traded at $1.30. Approximately 194,719 shares changed hands during trading, an increase of 34% from the average daily volume of 145,442 shares. The stock had previously closed at $1.20.

authID Trading Down 3.8%

The firm’s 50-day moving average is $1.20 and its 200 day moving average is $1.32. The firm has a market capitalization of $20.17 million, a price-to-earnings ratio of -0.98 and a beta of 1.57.

authID (NASDAQ:AUID) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.28) earnings per share (EPS) for the quarter. The firm had revenue of $0.48 million during the quarter. authID had a negative return on equity of 202.14% and a negative net margin of 616.91%.

Insider Buying and Selling

In other news, Director Ken Jisser purchased 30,120 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were purchased at an average price of $1.25 per share, for a total transaction of $37,650.00. Following the transaction, the director owned 122,245 shares of the company’s stock, valued at approximately $152,806.25. This trade represents a 32.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen Jeffrey Garchik purchased 120,482 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was purchased at an average price of $1.25 per share, for a total transaction of $150,602.50. Following the transaction, the director directly owned 291,316 shares in the company, valued at approximately $364,145. This trade represents a 70.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 7.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AUID. Comerica Bank lifted its position in shares of authID by 11.7% in the 1st quarter. Comerica Bank now owns 19,127 shares of the company’s stock worth $93,000 after purchasing an additional 2,000 shares during the period. XTX Topco Ltd acquired a new position in shares of authID in the 2nd quarter worth approximately $77,000. Scoggin Management LP lifted its position in shares of authID by 60.4% in the 2nd quarter. Scoggin Management LP now owns 400,000 shares of the company’s stock worth $2,116,000 after purchasing an additional 150,612 shares during the period. Corient Private Wealth LLC lifted its position in shares of authID by 136.4% in the 2nd quarter. Corient Private Wealth LLC now owns 52,000 shares of the company’s stock worth $275,000 after purchasing an additional 30,000 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of authID by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 452,384 shares of the company’s stock worth $1,443,000 after purchasing an additional 25,822 shares during the period. Institutional investors and hedge funds own 8.83% of the company’s stock.

authID Company Profile

authID (NASDAQ: AUID) is a technology company specializing in digital identity verification and biometric authentication solutions. The company offers a cloud-based platform designed to help organizations securely verify user identities, prevent account takeover and reduce fraud. Leveraging artificial intelligence and machine learning, authID’s software supports biometric modalities including facial recognition, voice verification and liveness detection to ensure that customers are who they claim to be.

The company’s flagship product suite enables enterprises to integrate identity proofing and continuous authentication into their online and mobile applications.