authID (NASDAQ:AUID) Shares Up 7.6% – Should You Buy?

authID Inc. (NASDAQ:AUID) shot up 7.6% during mid-day trading on Tuesday . The company traded as high as $1.28 and last traded at $1.27. 141,221 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 201,469 shares. The stock had previously closed at $1.18.

authID Stock Down 11.7%

The business’s 50-day moving average price is $1.39 and its 200-day moving average price is $1.59. The firm has a market capitalization of $19.52 million, a PE ratio of -0.87 and a beta of 1.72.

authID (NASDAQ:AUID) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($0.28) earnings per share (EPS) for the quarter. The company had revenue of ($0.30) million during the quarter. authID had a negative return on equity of 187.96% and a negative net margin of 653.77%.

Hedge Funds Weigh In On authID

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HRT Financial LP bought a new position in authID during the fourth quarter valued at approximately $69,000. XTX Topco Ltd bought a new position in authID during the second quarter valued at approximately $77,000. Comerica Bank raised its position in authID by 11.7% during the first quarter. Comerica Bank now owns 19,127 shares of the company’s stock valued at $93,000 after acquiring an additional 2,000 shares in the last quarter. Geode Capital Management LLC raised its position in authID by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 138,843 shares of the company’s stock valued at $121,000 after acquiring an additional 13,087 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in authID by 207.7% during the fourth quarter. Corient Private Wealth LLC now owns 160,000 shares of the company’s stock valued at $140,000 after acquiring an additional 108,000 shares in the last quarter. Institutional investors own 8.83% of the company’s stock.

About authID

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.