Director of authID Inc. (NASDAQ:AUID), Ken Jisser, has made a significant purchase of the company's stock, according to a recent filing. On May 20, Jisser acquired 5,500 shares of authID Inc. at an average price of $7.64 per share, totaling approximately $42,020.
The transaction was executed on the open market, with prices ranging from $7.47 to $7.70 per share throughout the day. This purchase has increased Jisser's direct holdings to 43,475 shares of common stock in the company.
In addition to this purchase, the filing also disclosed information about stock options. According to the footnotes, Jisser has options for 25,000 shares with a conversion or exercise price of $5.48, which vest over a 12-month period. Another set of options for 12,500 shares, with a conversion or exercise price of $2.64, will vest annually in equal amounts over three years.
The recent acquisition by the director demonstrates a strong belief in the company's value and future prospects. Investors often view such insider purchases as a positive signal about the company's financial health and management's confidence in its growth.
authID Inc., previously known as Ipsidy Inc., is a company that specializes in prepackaged software services and is incorporated in Delaware. The company's business address is in Denver, Colorado.
InvestingPro Insights
Following the recent insider purchase by Director Ken Jisser of authID Inc. (NASDAQ:AUID), investors may find additional context in the company's financial metrics and market performance. As of the last twelve months ending in Q1 2024, authID Inc. holds a market capitalization of $71.35 million. The company's revenue during this period was $0.31 million, which, while modest, represents a significant quarterly growth rate of 315.73%. This surge in quarterly revenue could be indicative of the company's potential to increase its market share and operational scale.
Despite authID's growth in quarterly revenue, it's important to note that the company is not currently profitable, with a negative P/E ratio of -2.87. Additionally, authID's Price / Book ratio stands at 6.57, suggesting that the company is trading at a higher valuation relative to its book value. This metric is particularly relevant for investors assessing the company's valuation and comparing it to industry standards.
From an investment standpoint, authID Inc. has seen a high return over the last year with a price total return of 94.31%. This performance could be a contributing factor to the director's decision to increase his stake in the company. However, the price has experienced a notable decline over the last three months, falling by 25.94%. This recent drop may present a buying opportunity for those who share the director's confidence in the company's future prospects.
For those looking to delve deeper into authID Inc.'s financials and market performance, there are additional InvestingPro Tips available. These tips include insights such as the company's liquidity position, with liquid assets exceeding short-term obligations, and the fact that authID does not pay a dividend to shareholders. To access more tips and detailed analytics, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. There are a total of 9 additional InvestingPro Tips listed for authID Inc., providing a comprehensive analysis for investors.
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