Mitek Systems (NASDAQ:MITK) Hits New 52-Week High at $13.98

Shares of Mitek Systems, Inc. (NASDAQ:MITK) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.98 and last traded at $13.97, with a volume of 607047 shares changing hands. The stock had previously closed at $13.23.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MITK shares. StockNews.com cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Craig Hallum assumed coverage on Mitek Systems in a report on Thursday, December 14th. They set a “buy” rating and a $17.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Mitek Systems in a research report on Wednesday, March 20th.

Mitek Systems Stock Up 5.2 %

The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $651.32 million, a price-to-earnings ratio of 85.01 and a beta of 1.07. The firm has a 50-day moving average of $12.19 and a two-hundred day moving average of $11.65.

Hedge Funds Weigh In On Mitek Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Mitek Systems by 88.5% during the third 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 bought a new position in Mitek Systems during the fourth quarter valued at about $40,000. Covestor Ltd increased its stake in Mitek Systems by 115,275.0% during the second quarter. Covestor Ltd now owns 4,615 shares of the software maker’s stock valued at $50,000 after acquiring an additional 4,611 shares during the period. Quarry LP increased its stake in Mitek Systems by 536.0% during the first quarter. Quarry LP now owns 4,738 shares of the software maker’s stock valued at $45,000 after acquiring an additional 3,993 shares during the period. Finally, Royal Bank of Canada increased its stake in Mitek Systems by 66.4% during the third quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock valued at $46,000 after acquiring an additional 1,977 shares during the period. 83.64% of the stock is currently 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.