BIO-key International (BKYI) stock rocketed higher on Monday after the fingerprint identification biometric technology and software solutions company announced a partnership with Scandinavian IT distributor IT2Trust.
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With this collaboration, IT2Trust will use its connections to distribute BIO-key International’s technology across Denmark, Sweden, Norway, and Finland. This includes BIO-key International’s PortalGuard, Passkey:YOU, PIN:You, WEB-key, Identity-Bound Biometrics (IBB), and certified biometric scanners.
Ana Marques, BIO-key International’s Territory Sales Director, said, “This collaboration with IT2Trust is opening doors across the Nordics. Their trusted distribution and on-the-ground guidance, paired with BIO-key’s technology, are exactly what government teams are asking for.”
BIO-key International Stock Movement Today
BIO-key International stock was up 150.62% in pre-market trading on Monday, following a 1.58% rally on Friday. The stock has fallen 54.96% year-to-date but remained up 11.61% over the past 12 months.
With today’s news came heavy trading of BIO-key International stock. This saw some 106 million shares of BKYI stock change hands before the opening bell, compared to a three-month daily average trading volume of about 125,000 shares.
Is BIO-key International Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for BIO-key International is Moderate Buy, based on a single Buy rating over the past three months. With that comes a $2 price target for BKYI stock, representing a potential 159.71% upside for the shares.
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