Mitek Systems (NASDAQ:MITK) Shares Pass Above 200 Day Moving Average – What’s Next?

Mitek Systems, Inc. (NASDAQ:MITK) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.27 and traded as high as $10.05. Mitek Systems shares last traded at $9.90, with a volume of 384,857 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $13.50.

Mitek Systems Trading Up 1.4%

The stock has a market capitalization of $451.91 million, a PE ratio of 30.00 and a beta of 1.06. The stock’s fifty day simple moving average is $9.74 and its 200-day simple moving average is $9.27.

Institutional Investors Weigh In On Mitek Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of Mitek Systems by 2.4% in the 4th quarter. Northern Trust Corp now owns 440,596 shares of the software maker’s stock worth $4,904,000 after buying an additional 10,377 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Mitek Systems by 1.5% in the fourth quarter. Ameriprise Financial Inc. now owns 655,656 shares of the software maker’s stock worth $7,297,000 after purchasing an additional 9,894 shares during the last quarter. Deutsche Bank AG boosted its position in Mitek Systems by 13.3% in the fourth quarter. Deutsche Bank AG now owns 150,579 shares of the software maker’s stock worth $1,676,000 after purchasing an additional 17,725 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Mitek Systems in the 4th quarter valued at $272,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Mitek Systems by 3.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,600 shares of the software maker’s stock valued at $674,000 after purchasing an additional 1,803 shares during the last quarter. 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.