Precise Biometrics Gains on Apple IPhone Sensor: Stockholm Mover
Precise Biometrics AB (PREC), a Swedish maker of fingerprint identification technology, advanced the most in almost two weeks in Stockholm trading after Apple Inc. (AAPL) said its latest iPhone 5S model has a fingerprint sensor.
The shares jumped as much as 14 percent to 5.1 kronor, their steepest intraday advance since Aug. 29 and highest price since Sept. 5. The stock rose 6.7 percent to 4.77 kronor as of 12:32 p.m. local time, with trading volume at 262 percent of the daily average in the past three months.
Apple, which has long been the pacesetter in the smartphone market, said yesterday that its iPhone 5S will have fingerprint-sensor technology located on the phone’s home button, which people can use to unlock their device and confirm purchases from iTunes and Apple’s app store.
Precise Biometrics has risen more than seven-fold this year, advancing along with other makers of biometric security devices as investors bet more phone makers will replace conventional passwords and signatures with physical identifiers.
“The launch of fingerprint recognition on Apple’s iPhone 5S is a key milestone in the fingerprint biometric industry,” the company said in a statement today. “Our products present strong competitive advantages as the mobile industry move towards making fingerprint sensor standard on smart devices.”
Sales at the Lund, Sweden-based company, which counts the U.S. Department of State and Nordic gym chain Fitness24Seven to its customers, jumped 31 percent to 28.3 million kronor ($4.3 million) last year.
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