Mitek Systems, Inc. (NASDAQ:MITK) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,030,000 shares, a growth of 10.9% from the December 15th total of 928,700 shares. Based on an average trading volume of 395,300 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.6% of the shares of the company are short sold.
A number of analysts recently commented on the company. ValuEngine upgraded Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday. Roth Capital downgraded shares of Mitek Systems from a “buy” rating to a “neutral” rating and lowered their price target for the company from $12.50 to $8.00 in a report on Friday, November 15th. BidaskClub upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research downgraded Mitek Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $13.25.
In other news, insider Michael E. Diamond sold 3,868 shares of Mitek Systems stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $9.48, for a total value of $36,668.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 12,385 shares of company stock valued at $101,466 over the last quarter. Company insiders own 8.20% of the company’s stock.
MITK traded up $0.30 on Thursday, hitting $9.55. The company had a trading volume of 17,762 shares, compared to its average volume of 347,156. The company has a market cap of $384.59 million, a PE ratio of 50.26, a PEG ratio of 2.39 and a beta of -0.36. Mitek Systems has a 12-month low of $6.96 and a 12-month high of $13.07. The business’s fifty day simple moving average is $7.60 and its 200 day simple moving average is $9.10.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, November 7th. The software maker reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.09. The company had revenue of $25.02 million for the quarter, compared to analyst estimates of $25.02 million. Mitek Systems had a negative net margin of 0.86% and a positive return on equity of 8.91%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. On average, sell-side analysts anticipate that Mitek Systems will post 0.25 EPS for the current year.
About Mitek Systems
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.
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