Mitek Systems (NASDAQ:MITK) Given Hold (C-) Rating at Weiss Ratings

Key Points

• Mitek Systems has received a "hold (C-)" rating from Weiss Ratings, maintaining its stance as two analysts rate the stock as a Buy, while one assigns a Hold rating.
• The company reported a quarterly EPS of $0.36 and had revenues of $51.93 million, with analysts expecting an average of $0.59 EPS for the current fiscal year.
• Mitek Systems' stock is currently trading at $9.12 and has seen significant activity from institutional investors, with 83.64% of the stock owned by them.

Mitek Systems (NASDAQ:MITK - Get Free Report)'s stock had its "hold (c-)" rating reiterated by equities researchers at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen cut Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Mitek Systems has an average rating of "Moderate Buy" and an average target price of $13.50.

Mitek Systems Trading Up 0.4%

Mitek Systems stock traded up $0.04 during trading hours on Tuesday, hitting $9.12. 150,221 shares of the stock traded hands, compared to its average volume of 442,828. The firm's 50-day moving average price is $9.89 and its two-hundred day moving average price is $9.37. The company has a market cap of $416.10 million, a PE ratio of 27.60 and a beta of 1.07. Mitek Systems has a one year low of $6.93 and a one year high of $11.78.

Mitek Systems (NASDAQ:MITK - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The software maker reported $0.36 EPS for the quarter. Mitek Systems had a return on equity of 17.26% and a net margin of 8.71%.The firm had revenue of $51.93 million for the quarter. On average, sell-side analysts expect that Mitek Systems will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mitek Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Mitek Systems by 1,882.5% in the 1st quarter. GAMMA Investing LLC now owns 3,053 shares of the software maker's stock valued at $25,000 after acquiring an additional 2,899 shares in the last quarter. Pandora Wealth Inc. bought a new position in Mitek Systems in the 1st quarter valued at approximately $41,000. Tower Research Capital LLC TRC lifted its position in Mitek Systems by 320.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,018 shares of the software maker's stock valued at $60,000 after acquiring an additional 4,586 shares in the last quarter. Bayesian Capital Management LP bought a new position in Mitek Systems in the 2nd quarter valued at approximately $136,000. Finally, Kennedy Capital Management LLC bought a new position in Mitek Systems in the 2nd quarter valued at approximately $144,000. 83.64% of the stock is owned by institutional investors.

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.

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