Mitek Systems (NASDAQ:MITK) Shares Gap Down to $14.83

Shares of Mitek Systems, Inc. (NASDAQ:MITK) gapped down before the market opened on Tuesday . The stock had previously closed at $14.83, but opened at $13.74. Mitek Systems shares last traded at $14.06, with a volume of 336,452 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Mitek Systems in a research report on Tuesday.

Mitek Systems Trading Down 7.1 %

The stock has a 50-day moving average price of $12.70 and a 200-day moving average price of $11.93. The stock has a market cap of $644.77 million, a P/E ratio of 86.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.69 and a current ratio of 3.69.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Tuesday, March 19th. The software maker reported $0.10 earnings per share for the quarter. The company had revenue of $37.66 million during the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. On average, equities research analysts expect that Mitek Systems, Inc. will post 0.82 EPS for the current year.

Institutional Trading of Mitek Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in shares of Mitek Systems by 88.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock valued at $29,000 after buying an additional 1,475 shares during the period. Point72 Middle East FZE purchased a new position in shares of Mitek Systems during the fourth quarter valued at approximately $40,000. Quarry LP increased its stake in shares of Mitek Systems by 536.0% during the first quarter. Quarry LP now owns 4,738 shares of the software maker’s stock valued at $45,000 after buying an additional 3,993 shares during the period. Royal Bank of Canada increased its stake in shares of Mitek Systems by 66.4% during the third quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock valued at $46,000 after buying an additional 1,977 shares during the period. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Mitek Systems during the third quarter valued at approximately $59,000. Institutional investors own 83.64% of the company’s stock.

Mitek Systems Company Profile

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.