At last check, in the after-hours trading session, Intrusion Inc. (INTZ) stock surged by 4.05% to $15.40. INTZ stock was previously closed at $14.80 losing -19.21%. The INTZ stock volume traded about 0.42 million shares. The average 3 months trade volume is 358.88K. In the past year, INTZ stock had surged by 348.48%. However in the past 3 months and the past week, the INTZ stock has shed -30.84% and-17.73%. Furthermore, Intrusion Inc. is currently valued at $251.75 million and has 16.77 million outstanding shares.
What investors and traders should know about Intrusion Inc.
Intrusion Inc. is a software and IT company that specifically focuses on the development, production, and support provision for data-centric services. The product offering of Intrusion Inc. includes cybersecurity protection against cyber threats, mining of high-speed data, assistance in regulated information compliance, the privacy of data, and protection. The company operates in the market of United States.
The company’s product portfolio
The company has created a worldwide collection of database which includes IP addresses that can aid in the tracing, tracking, and identifying people who were involved in cybercrime. It then also provides analysis software and a GUI interface to assist the authorities and their analysts in finding out the location of the people committing crimes. The whole proprietary system is known as TraceCop.
The company also has a data mining product with a high-speed network. This product functions to organize the data into a network string of relationships and associations. This product is known as Savant.
For the protection of data and regulation of information, Intrusion provides Compliance Commander. Furthermore, the company procures hardware and third-party products like servers and computers that will help in the implementation of its software for customer’s required networks.
The main customers of the company come from a clientele of government, semi-government and private institutions like banks, credit unions, healthcare providers, hospitals along with others.
The company has a direct sales force that markets and sells its products to wholesalers, value-added resellers, and end-users.
How did Intrusion Inc. get itself into a heap of lawsuit trouble?
Intrusion Inc. is a well-built software company that covers many aspects of cybercrime prevention, protection, and data-mining networking. However, it has recently come under scrutiny for alleged claims of falsely marketing one of its products. Intrusion is facing multiple class-action lawsuits. On 13th January 2021, the company announced that its cybersecurity solution known as ShieldTM has gone through beta testing and is now generally available. ShieldTM uses artificial intelligence to identify the cybercrime activities and then gets to the root of the activity within a network to eliminate the connection.
On 6th April 2021, the company had signed a huge client for the new Intrusion ShieldTM known as Lippert Components, a global component manufacturing giant.
However on 14th April, a day after the cybersecurity and data mining company announced its positive first quarter 2021 results, several law firms started filing lawsuits because short research was published on the company. This research was published by White Diamond Research that claimed that Intrusion has no patents, certifications, or insurance for the Shield product as well as other cybersecurity products. The claims of Shield being an open-source publically available data means is what all these law firms are basing their class-action lawsuits.