Intellicheck (NYSE:IDN) Stock Price Down 5.5% – Here’s Why

Shares of Intellicheck, Inc. (NYSE:IDN) dropped 5.5% on Friday . The company traded as low as $5.57 and last traded at $5.68. Approximately 205,431 shares traded hands during trading, an increase of 72% from the average daily volume of 119,272 shares. The stock had previously closed at $6.01.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IDN shares. Northland Securities raised Intellicheck from a “market perform” rating to an “outperform” rating and set a $7.00 price objective on the stock in a research note on Thursday, November 13th. DA Davidson reiterated a “neutral” rating and set a $7.50 target price on shares of Intellicheck in a report on Monday, November 24th. Finally, HC Wainwright reissued a “buy” rating and set a $8.50 price objective (up previously from $6.00) on shares of Intellicheck in a research note on Tuesday, December 16th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $7.25.

Intellicheck Price Performance

The stock has a market capitalization of $114.76 million, a P/E ratio of -189.33 and a beta of 1.13. The firm has a fifty day moving average of $6.37 and a two-hundred day moving average of $5.59.

Institutional Trading of Intellicheck

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Truist Financial Corp boosted its holdings in shares of Intellicheck by 28.1% in the second quarter. Truist Financial Corp now owns 58,105 shares of the company’s stock valued at $313,000 after acquiring an additional 12,737 shares in the last quarter. Prospera Financial Services Inc bought a new position in Intellicheck during the second quarter valued at approximately $120,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Intellicheck during the 2nd quarter worth about $233,000. ARS Investment Partners LLC bought a new position in Intellicheck in the 2nd quarter worth $408,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Intellicheck by 21,267.7% in the second quarter. JPMorgan Chase & Co. now owns 13,889 shares of the company’s stock valued at $75,000 after acquiring an additional 13,824 shares during the period. 42.79% of the stock is currently owned by institutional investors and hedge funds.

About Intellicheck

Intellicheck, Inc (NYSE: IDN) is a U.S.-based technology company specializing in identity verification and risk mitigation solutions. The company develops software that leverages machine learning, computer vision and proprietary analytics to authenticate a wide range of identity documents in real time and detect fraudulent or counterfeit credentials. Intellicheck’s platform integrates with point-of-sale systems, kiosks and mobile devices, enabling seamless deployment across multiple channels.

Focused on retail, financial services, hospitality, gaming and government sectors, Intellicheck’s solutions help clients comply with regulatory requirements, reduce fraud losses and streamline customer interactions.