Mitek Systems (NASDAQ:MITK) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Mitek Systems, Inc. (NASDAQ:MITK)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.50 and traded as high as $9.64. Mitek Systems shares last traded at $9.43, with a volume of 252,167 shares.

Wall Street Analysts Forecast Growth

MITK has been the topic of several recent research reports. Wall Street Zen downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Mitek Systems in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Mitek Systems Stock Down 1.6%

The firm has a market capitalization of $430.48 million, a price-to-earnings ratio of 28.58 and a beta of 1.07. The company has a 50-day moving average price of $9.80 and a 200-day moving average price of $9.50.

Mitek Systems (NASDAQ:MITK) last posted its earnings results on Tuesday, June 3rd. The software maker reported $0.36 EPS for the quarter. Mitek Systems had a return on equity of 17.26% and a net margin of 8.71%.The firm had revenue of $51.93 million for the quarter. As a group, analysts forecast that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On Mitek Systems

Several institutional investors have recently bought and sold shares of MITK. Campbell & CO Investment Adviser LLC grew its position in Mitek Systems by 113.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 63,680 shares of the software maker’s stock valued at $622,000 after buying an additional 33,877 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Mitek Systems in the 3rd quarter worth approximately $39,000. SG Americas Securities LLC bought a new position in shares of Mitek Systems in the third quarter valued at approximately $283,000. CWM LLC boosted its holdings in shares of Mitek Systems by 17.6% in the third quarter. CWM LLC now owns 26,682 shares of the software maker’s stock valued at $261,000 after acquiring an additional 3,986 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of Mitek Systems during the third quarter valued at approximately $1,005,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.