The stock of Mitek Systems, Inc. (NASDAQ:MITK) is a huge mover today! The stock increased 4.35% or $0.25 on November 23, hitting $6. About 538,734 shares traded hands or 18.48% up from the average. Mitek Systems, Inc. (NASDAQ:MITK) has declined 2.12% since April 22, 2016 and is downtrending. It has underperformed by 7.53% the S&P500.
The move comes after 6 months positive chart setup for the $200.02 million company. It was reported on Nov, 24 by Barchart.com. We have $6.42 PT which if reached, will make NASDAQ:MITK worth $14.00 million more.
Analysts await Mitek Systems, Inc. (NASDAQ:MITK) to report earnings on January, 26. They expect $-0.02 EPS, down 300.00% or $0.03 from last year’s $0.01 per share. After $0.05 actual EPS reported by Mitek Systems, Inc. for the previous quarter, Wall Street now forecasts -140.00% negative EPS growth.
Mitek Systems, Inc. (NASDAQ:MITK) Ratings Coverage
Out of 2 analysts covering Mitek Systems (NASDAQ:MITK), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Mitek Systems has been the topic of 3 analyst reports since January 8, 2016 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Monday, January 25 by Northland Capital. Benchmark initiated the stock with “Buy” rating in Friday, January 8 report. Benchmark maintained the stock with “Buy” rating in Wednesday, March 23 report.
According to Zacks Investment Research, “Mitek Systems, Inc. is primarily engaged in the development and sale of software products with particular focus on intelligent character recognition and forms processing technology, products and services for the document imaging markets. They develop, market and support what they believe to be the most accurate Automated Document Recognition (ADR) products commercially available for the recognition of hand printed characters.”
Insitutional Activity: The institutional sentiment decreased to 1.09 in Q2 2016. Its down 0.43, from 1.52 in 2016Q1. The ratio worsened, as 26 funds sold all Mitek Systems, Inc. shares owned while 18 reduced positions. 37 funds bought stakes while 30 increased positions. They now own 13.95 million shares or 37.44% more from 10.15 million shares in 2016Q1.
Granite Invest Ltd Company has invested 0.27% of its portfolio in Mitek Systems, Inc. (NASDAQ:MITK). Aqr Cap Management Ltd Liability Co last reported 104,142 shares in the company. Blackrock Institutional Trust Na holds 0% of its portfolio in Mitek Systems, Inc. (NASDAQ:MITK) for 724,054 shares. Essex Inv Mgmt Limited Liability Corporation last reported 261,159 shares in the company. The New York-based Blackrock has invested 0% in Mitek Systems, Inc. (NASDAQ:MITK). Geode Capital Mngmt Ltd Liability Corporation accumulated 0% or 235,612 shares. Bogle Invest Management Ltd Partnership De holds 0.19% of its portfolio in Mitek Systems, Inc. (NASDAQ:MITK) for 378,484 shares. The Delaware-based Blackrock Advsrs Ltd Liability Co has invested 0% in Mitek Systems, Inc. (NASDAQ:MITK). Coe Cap Management Lc holds 148,156 shares or 0% of its portfolio. Credit Suisse Ag accumulated 0% or 222,467 shares. Palo Capital holds 0.15% or 62,500 shares in its portfolio. Blair William & Com Il has 0.01% invested in the company for 687,370 shares. Messner Smith Theme Value Management Ca accumulated 0.77% or 58,635 shares. Ladenburg Thalmann Fincl Svcs accumulated 1,000 shares or 0% of the stock. Teachers Advisors reported 47,541 shares or 0% of all its holdings.
Insider Transactions: Since November 8, 2016, the stock had 0 insider buys, and 8 selling transactions for $439,035 net activity. 477 shares were sold by SARAH CLARK, worth $2,910 on Tuesday, November 8. Shares for $83,038 were sold by CLARK RUSSELL C.. Shares for $71,542 were sold by Diamond Michael E. DEBELLO JAMES B sold 22,769 shares worth $123,180.
More news for Mitek Systems, Inc. (NASDAQ:MITK) were recently published by: Fool.com, which released: “Why Shares of Mitek Systems Inc. Sank Today” on June 02, 2016. Seekingalpha.com‘s article titled: “Mitek Systems – Favorable 2017 Outlook” and published on November 04, 2016 is yet another important article.
MITK Company Profile
Mitek Systems, Inc., incorporated on May 29, 1986, develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with camera-equipped smartphones and tablets instead of using the device keyboard. The Company’s technology uses algorithms to correct image distortion, extract relevant data, route images to their desired location and process transactions. The Company’s technology processes images of documents in many ways. These include quality analysis, image repair, document identification and the extraction of hand-printed and machine-printed text.
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