Mitek Systems (NASDAQ:MITK) Shares Pass Above 200-Day Moving Average of $10.04

Shares of Mitek Systems, Inc. (NASDAQ:MITK) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.04 and traded as high as $11.37. Mitek Systems shares last traded at $11.17, with a volume of 350,654 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Mitek Systems in a research note on Thursday, August 17th. They set a “buy” rating for the company.

Mitek Systems Stock Performance

The stock has a market capitalization of $516.81 million, a PE ratio of 141.88 and a beta of 0.77. The business has a 50 day moving average of $11.00 and a two-hundred day moving average of $10.06.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Thursday, June 29th. The software maker reported $0.14 earnings per share for the quarter. The firm had revenue of $38.77 million during the quarter. On average, equities analysts expect that Mitek Systems, Inc. will post 0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Mitek Systems

A number of large investors have recently modified their holdings of MITK. Tower Research Capital LLC TRC increased its position in shares of Mitek Systems by 88.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock valued at $29,000 after acquiring an additional 1,475 shares during the period. Point72 Middle East FZE purchased a new position in Mitek Systems during the 4th quarter worth approximately $40,000. Quarry LP raised 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 buying an additional 3,993 shares during the last quarter. Royal Bank of Canada raised 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 buying an additional 1,977 shares during the last quarter. Finally, Covestor Ltd raised its position in Mitek Systems by 115,275.0% during the 2nd quarter. Covestor Ltd now owns 4,615 shares of the software maker’s stock worth $50,000 after buying an additional 4,611 shares during the last quarter. Hedge funds and other institutional investors own 74.83% 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.