BIO-key International (NASDAQ:BKYI) Stock Price Passes Below 50-Day Moving Average on Disappointing Earnings

BIO-key International Inc. (NASDAQ:BKYI) crossed below its fifty day moving average during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock has a fifty day moving average of $0.81 and traded as low as $0.75. BIO-key International shares last traded at $0.79, with a volume of 248,684 shares.

The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.70 million. BIO-key International had a negative net margin of 74.11% and a negative return on equity of 181.57%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised BIO-key International to a “hold” rating in a report on Saturday, June 21st.

BIO-key International Stock Performance

The firm has a fifty day moving average price of $0.81 and a two-hundred day moving average price of $0.90. The stock has a market capitalization of $4.61 million, a P/E ratio of -0.38 and a beta of 0.41.

About BIO-key International

BIO-key International, Inc develops and markets fingerprint identification biometric technology and software solutions, and enterprise-ready identity access management solutions for commercial, government, and education customers in the United States and internationally. The company offers BIO-key PortalGuard and PortalGuard IDaaS solutions, a customer-controlled and neutral-by-design cloud-based identity platform that allows customers to integrate with any cloud or on-premises SaaS application, as well as windows device authentication through IAM platform.