BIO-key International (NASDAQ:BKYI) Shares Break Below Fifty Day Moving Average After Earnings Miss

Shares of BIO-key International Inc. (NASDAQ:BKYI) crossed below its 50 day moving average during trading on Friday following a dissappointing earnings announcement. The stock has a 50 day moving average of $2.46 and traded as low as $2.06. BIO-key International shares last traded at $2.12, with a volume of 216,234 shares.

The technology company reported ($4.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($3.66). BIO-key International had a negative return on equity of 67.31% and a negative net margin of 50.01%. The firm had revenue of $1.48 million for the quarter, compared to analyst estimates of $2.40 million.

Wall Street Analyst Weigh In

BKYI has been the topic of several research reports. Zacks Research raised BIO-key International to a “hold” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of BIO-key International in a report on Thursday, October 15th. Finally, Wall Street Zen upgraded BIO-key International to a “hold” rating in a research note on Saturday, October 24th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.

BIO-key International Trading Down 17.8%

The company has a market cap of $4.32 million, a P/E ratio of -0.52 and a beta of 0.52. The company’s 50-day moving average price is $2.46 and its two-hundred day moving average price is $4.40.

BIO-key International Company Profile

BIO-key International, Inc. (NASDAQ: BKYI) develops biometric authentication and identity and access management solutions. The company helps organizations secure access to applications, networks, devices and data through fingerprint recognition and other authentication methods designed to reduce reliance on passwords. Its product portfolio includes PortalGuard, an identity and access management platform that supports single sign-on, multifactor authentication, self-service password management and access control.