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

Mitek Systems, Inc. (NASDAQ:MITK - Get Free Report)'s share price gapped down prior to trading 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.

Analysts Set New Price Targets

Several analysts have recently weighed in on MITK shares. HC Wainwright reissued a "buy" rating and issued a $19.00 target price on shares of Mitek Systems in a report on Tuesday. StockNews.com downgraded Mitek Systems from a "buy" rating to a "hold" rating in a report on Thursday, March 21st. Finally, Craig Hallum boosted their target price on Mitek Systems from $17.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday.

Mitek Systems Price Performance

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 firm has a market capitalization of $626.52 million, a PE ratio of 83.69 and a beta of 1.09. The company has a fifty day moving average price of $12.71 and a two-hundred day moving average price of $11.95.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings data on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. The firm 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%. Sell-side analysts forecast that Mitek Systems, Inc. will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On Mitek Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MITK. Tower Research Capital LLC TRC increased its position in Mitek Systems by 88.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker's stock worth $29,000 after purchasing an additional 1,475 shares during the period. Point72 Middle East FZE acquired a new position in Mitek Systems during the 4th quarter worth approximately $40,000. Quarry LP increased its position in Mitek Systems by 536.0% during the 1st quarter. Quarry LP now owns 4,738 shares of the software maker's stock worth $45,000 after purchasing an additional 3,993 shares during the period. Royal Bank of Canada increased its position in Mitek Systems by 66.4% during the 3rd quarter. Royal Bank of Canada now owns 4,954 shares of the software maker's stock worth $46,000 after purchasing an additional 1,977 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new position in Mitek Systems during the 3rd quarter worth approximately $59,000. Institutional investors and hedge funds own 83.64% of the company's stock.

About Mitek Systems

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.