Mitek Systems (NASDAQ:MITK) Shares Up 4.3%

Mitek Systems, Inc. (NASDAQ:MITK) rose 4.3% during mid-day trading on Tuesday . The company traded as high as $13.51 and last traded at $13.46. Approximately 158,870 shares changed hands during trading, a decline of 58% from the average daily volume of 381,130 shares. The stock had previously closed at $12.90.

Analyst Ratings Changes

Several brokerages recently weighed in on MITK. Craig Hallum began coverage on Mitek Systems in a report on Thursday, December 14th. They issued a “buy” rating and a $17.00 price objective for the company. StockNews.com lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Finally, HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Mitek Systems in a research report on Wednesday, March 20th.

Mitek Systems Trading Up 1.3 %

The stock has a market capitalization of $659.74 million, a P/E ratio of 87.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.69 and a current ratio of 3.69. The business has a 50 day simple moving average of $12.24 and a 200-day simple moving average of $11.66.

Institutional Investors Weigh In On Mitek Systems

Several large investors have recently modified their holdings of MITK. Tower Research Capital LLC TRC lifted its holdings in shares of Mitek Systems by 88.5% in the third quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock valued at $29,000 after purchasing an additional 1,475 shares in the last quarter. Point72 Middle East FZE purchased a new stake in shares of Mitek Systems in the fourth quarter valued at $40,000. Quarry LP lifted its holdings in shares of Mitek Systems by 536.0% in the first quarter. Quarry LP now owns 4,738 shares of the software maker’s stock valued at $45,000 after purchasing an additional 3,993 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Mitek Systems by 66.4% in the third quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock valued at $46,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Mitek Systems by 32.3% in the third quarter. Covestor Ltd now owns 6,107 shares of the software maker’s stock valued at $65,000 after purchasing an additional 1,492 shares in the last quarter. 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.