Mitek Systems (NASDAQ:MITK) Sees Strong Trading Volume

Mitek Systems, Inc. (NASDAQ:MITK - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 272,187 shares were traded during trading, a decline of 45% from the previous session's volume of 491,975 shares.The stock last traded at $13.38 and had previously closed at $13.37.

Analysts Set New Price Targets

A number of analysts recently commented on MITK shares. HC Wainwright reiterated a "buy" rating and set a $19.00 price objective on shares of Mitek Systems in a research report on Tuesday, April 16th. StockNews.com cut Mitek Systems from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Craig Hallum upped their price objective on Mitek Systems from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th.

Mitek Systems Stock Performance

The business has a 50 day moving average of $13.05 and a 200 day moving average of $12.28. The company has a market capitalization of $663.50 million, a P/E ratio of -202.57 and a beta of 1.12. The company has a quick ratio of 4.70, a current ratio of 4.70 and a debt-to-equity ratio of 0.64.

Mitek Systems (NASDAQ:MITK - Get Free Report) last issued its quarterly earnings data on Monday, April 15th. The software maker reported $0.08 earnings per share (EPS) for the quarter. Mitek Systems had a positive return on equity of 13.13% and a negative net margin of 1.97%. The business had revenue of $36.92 million for the quarter. On average, sell-side analysts predict that Mitek Systems, Inc. will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Mitek Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Impax Asset Management Group plc raised its holdings in shares of Mitek Systems by 41.1% in the fourth quarter. Impax Asset Management Group plc now owns 720,349 shares of the software maker's stock worth $9,393,000 after buying an additional 210,000 shares during the period. North Star Investment Management Corp. raised its holdings in shares of Mitek Systems by 4,261.7% in the fourth quarter. North Star Investment Management Corp. now owns 116,675 shares of the software maker's stock worth $1,521,000 after buying an additional 114,000 shares during the period. B. Riley Asset Management LLC increased its holdings in Mitek Systems by 28.9% during the 3rd quarter. B. Riley Asset Management LLC now owns 718,981 shares of the software maker's stock worth $7,707,000 after purchasing an additional 161,246 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Mitek Systems by 77.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 429,271 shares of the software maker's stock worth $4,602,000 after purchasing an additional 186,746 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Mitek Systems by 427.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 235,033 shares of the software maker's stock worth $2,520,000 after purchasing an additional 190,481 shares during the period. 83.64% of the stock is currently owned by hedge funds and other 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.