authID (NASDAQ:AUID) Stock Price Up 8.1% – Here’s Why

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

authID Stock Up 8.1%

The firm has a market capitalization of $19.76 million, a PE ratio of -0.92 and a beta of 1.67. The stock has a 50-day moving average price of $1.58 and a 200 day moving average price of $1.88.

Institutional Investors Weigh In On authID

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Scoggin Management LP raised 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 period. Corient Private Wealth LLC increased its stake 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 purchasing an additional 108,000 shares in the last quarter. HRT Financial LP purchased a new stake in shares of authID during the fourth quarter worth about $69,000. Connective Capital Management LLC acquired a new position in shares of authID during the 2nd quarter worth about $402,000. Finally, Vanguard Group Inc. lifted its stake in authID by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 452,384 shares of the company’s stock valued at $1,443,000 after buying an additional 25,822 shares in the last quarter. Hedge funds and other institutional investors own 8.83% of the company’s stock.

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.