authID Inc. (NASDAQ:AUID) Sees Large Decline in Short Interest

authID Inc. (NASDAQ:AUID) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 600,069 shares, a decrease of 29.7% from the November 30th total of 853,560 shares. Based on an average daily trading volume, of 442,622 shares, the days-to-cover ratio is currently 1.4 days. Approximately 4.8% of the shares of the stock are short sold. Approximately 4.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 442,622 shares, the days-to-cover ratio is currently 1.4 days.

Insider Activity

In other news, Director Stephen Jeffrey Garchik sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $1.06, for a total value of $53,000.00. Following the sale, the director directly owned 1,073,563 shares in the company, valued at approximately $1,137,976.78. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ken Jisser acquired 40,650 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average price of $1.24 per share, with a total value of $50,406.00. Following the completion of the transaction, the director owned 92,125 shares in the company, valued at $114,235. This represents a 78.97% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 7.20% of the company’s stock.

Institutional Trading of authID

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of authID in the second quarter valued at approximately $77,000. Comerica Bank grew its holdings 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 acquiring an additional 2,000 shares during the last quarter. Private Wealth Asset Management LLC acquired a new position in authID in the 2nd quarter valued at approximately $138,000. Corient Private Wealth LLC raised its stake in shares of authID by 136.4% during the second quarter. Corient Private Wealth LLC now owns 52,000 shares of the company’s stock valued at $275,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Connective Capital Management LLC raised its stake in shares of authID by 59.1% during the third quarter. Connective Capital Management LLC now owns 120,949 shares of the company’s stock valued at $386,000 after acquiring an additional 44,922 shares during the last quarter. 8.83% of the stock is owned by institutional investors and hedge funds.

authID Price Performance

Shares of authID stock opened at $0.94 on Monday. The company’s 50 day moving average price is $1.71 and its two-hundred day moving average price is $3.11. The firm has a market capitalization of $12.67 million, a P/E ratio of -0.59 and a beta of 1.61. authID has a fifty-two week low of $0.87 and a fifty-two week high of $9.58.

authID (NASDAQ:AUID) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.38) earnings per share (EPS) for the quarter. authID had a negative return on equity of 180.17% and a negative net margin of 728.89%.The company had revenue of ($0.11) million for the quarter.

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.