authID (NASDAQ:AUID) Stock Price Up 8.1% – What’s Next?

authID Inc. (NASDAQ:AUID)’s stock price rose 8.1% during trading on Monday . The stock traded as high as $1.48 and last traded at $1.47. Approximately 327,667 shares were traded during trading, an increase of 8% from the average daily volume of 303,876 shares. The stock had previously closed at $1.36.

authID Price Performance

The firm has a market cap of $19.76 million, a price-to-earnings ratio of -0.92 and a beta of 1.67. The business has a fifty day simple moving average of $1.58 and a 200 day simple moving average of $1.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank boosted its stake in authID by 11.7% during 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 last quarter. XTX Topco Ltd acquired a new stake in shares of authID in the second quarter valued at about $77,000. Connective Capital Management LLC purchased a new position in shares of authID in the second quarter worth about $402,000. Scoggin Management LP lifted its stake in shares of authID by 60.4% in the second quarter. Scoggin Management LP now owns 400,000 shares of the company’s stock worth $2,116,000 after buying an additional 150,612 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in authID by 136.4% during the second quarter. Corient Private Wealth LLC now owns 52,000 shares of the company’s stock worth $275,000 after acquiring an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors 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.