BIO-key International (NASDAQ:BKYI) Shares Cross Below 50-Day Moving Average Following Weak Earnings

BIO-key International Inc. (NASDAQ:BKYI)’s share price crossed below its 50 day moving average during trading on Friday after the company announced weaker than expected quarterly earnings. 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 company had revenue of $1.48 million for the quarter, compared to analyst estimates of $2.40 million.

Analyst Ratings Changes

Several brokerages have recently commented on BKYI. Wall Street Zen raised BIO-key International to a “hold” rating in a research report on Saturday, October 24th. Zacks Research raised BIO-key International to a “hold” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of BIO-key International in a report on Thursday, October 15th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

BIO-key International Price Performance

The stock 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 simple moving average is $2.46 and its 200 day simple moving average is $4.40.

About BIO-key International

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.