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

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.

Analyst Upgrades and Downgrades

MITK has been the topic of several recent research reports. StockNews.com upgraded Mitek Systems from a “hold” rating to a “buy” rating in a report on Wednesday. Craig Hallum upped their price target on Mitek Systems from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Mitek Systems in a report on Tuesday.

Mitek Systems Trading Down 9.1 %

The company has a market cap of $569.43 million, a PE ratio of -173.83 and a beta of 1.09. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $12.70 and a two-hundred day simple moving average of $11.95.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. The business had revenue of $37.66 million for the quarter. Analysts anticipate that Mitek Systems, Inc. will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Mitek Systems by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 3,379,226 shares of the software maker’s stock valued at $44,065,000 after acquiring an additional 92,146 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Mitek Systems by 3.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the software maker’s stock valued at $383,000 after acquiring an additional 963 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Mitek Systems by 6.8% in the 4th quarter. Legal & General Group Plc now owns 3,045,287 shares of the software maker’s stock valued at $39,711,000 after purchasing an additional 193,443 shares during the period. Barclays PLC boosted its position in shares of Mitek Systems by 317.3% in the 4th quarter. Barclays PLC now owns 69,938 shares of the software maker’s stock valued at $912,000 after purchasing an additional 53,180 shares during the period. Finally, Newtyn Management LLC acquired a new stake in shares of Mitek Systems in the 4th quarter valued at about $12,942,000. Hedge funds and other 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.