authID (NASDAQ:AUID) Announces Quarterly Earnings Results

Key Points

• authID reported a quarterly earnings loss of ($0.33) EPS, reflecting a negative net margin of 1,518.05% and a return on equity of -117.29%.
• Following the earnings announcement, authID stock decreased by 3.4%, trading at $3.92 with a market capitalization of $52.70 million.
• A hedge fund, XTX Topco Ltd, recently acquired a 0.11% stake in authID, investing approximately $77,000 during the second quarter.

authID (NASDAQ:AUID - Get Free Report) announced its earnings results on Thursday. The company reported ($0.33) earnings per share for the quarter, Zacks reports. The business had revenue of $1.45 million for the quarter. authID had a negative return on equity of 144.07% and a negative net margin of 761.83%.

authID Trading Up 14.3%

NASDAQ:AUID traded up $0.56 during trading hours on Friday, hitting $4.48. The company had a trading volume of 228,127 shares, compared to its average volume of 54,518. The company has a 50-day moving average of $4.42 and a 200 day moving average of $5.46. The company has a market cap of $60.23 million, a P/E ratio of -2.93 and a beta of 1.65. authID has a 1 year low of $3.38 and a 1 year high of $10.21.

Institutional Trading of authID

Several large investors have recently added to or reduced their stakes in the stock. Scoggin Management LP grew its holdings in shares of authID by 60.4% during the 2nd quarter. Scoggin Management LP now owns 400,000 shares of the company's stock worth $2,116,000 after purchasing an additional 150,612 shares during the period. Corient Private Wealth LLC grew its holdings in shares of authID by 136.4% during the 2nd quarter. Corient Private Wealth LLC now owns 52,000 shares of the company's stock worth $275,000 after purchasing an additional 30,000 shares during the period. Comerica Bank grew its holdings in shares of 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 period. Finally, XTX Topco Ltd purchased a new position in shares of authID during the 2nd quarter worth $77,000. 8.83% of the stock is currently owned by hedge funds and other institutional investors.

About authID

authID Inc provides secure, biometric, identity verification, and strong passwordless and biometric authentication for consumer and workforce applications worldwide. The company offers solutions through its Verified platform to enable their users to easily verify and authenticate their identity through a mobile device or desktop.