authID (NASDAQ:AUID) Trading 12.5% Higher – Here’s Why

authID Inc. (NASDAQ:AUID)’s share price rose 12.5% on Friday . The company traded as high as $0.4149 and last traded at $0.4037. 205,578 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 636,457 shares. The stock had previously closed at $0.3588.

authID Trading Up 12.5%

The company has a market capitalization of $6.75 million, a price-to-earnings ratio of -0.33 and a beta of 1.56. The company has a fifty day moving average of $0.67 and a 200-day moving average of $1.06.

authID (NASDAQ:AUID) last announced its earnings results on Friday, August 14th. The company reported ($0.29) EPS for the quarter. The firm had revenue of $0.49 million for the quarter. authID had a negative net margin of 934.06% and a negative return on equity of 297.48%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AUID. Corient Private Wealth LLC grew its holdings in shares of authID by 207.7% during the fourth quarter. Corient Private Wealth LLC now owns 160,000 shares of the company’s stock worth $140,000 after buying an additional 108,000 shares in the last quarter. Connective Capital Management LLC lifted its stake in shares of authID by 59.1% in the third quarter. Connective Capital Management LLC now owns 120,949 shares of the company’s stock worth $386,000 after buying an additional 44,922 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of authID by 6.1% in the third quarter. Vanguard Group Inc. now owns 452,384 shares of the company’s stock worth $1,443,000 after buying an additional 25,822 shares in the last quarter. Scoggin Management LP boosted its position in authID by 60.4% during the second quarter. Scoggin Management LP now owns 400,000 shares of the company’s stock worth $2,116,000 after acquiring an additional 150,612 shares during the last quarter. Finally, Geode Capital Management LLC boosted 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 worth $121,000 after acquiring an additional 13,087 shares during the last quarter. 8.83% of the stock is owned by institutional investors and hedge funds.

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.