Mitek Systems (NASDAQ:MITK) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Mitek Systems (NASDAQ:MITK) in a research report released on Tuesday morning, Benzinga reports. HC Wainwright currently has a $19.00 price objective on the software maker’s stock.

Separately, StockNews.com lowered Mitek Systems from a buy rating to a hold rating in a report on Thursday, March 21st.

Mitek Systems Stock Performance

MITK stock opened at $11.98 on Tuesday. Mitek Systems has a 52 week low of $8.77 and a 52 week high of $16.24. The firm has a 50-day simple moving average of $12.69 and a 200-day simple moving average of $11.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.69 and a quick ratio of 3.69.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. The company had revenue of $37.66 million during the quarter. On average, analysts predict that Mitek Systems will post 0.82 EPS for the current year.

Institutional Trading of Mitek Systems

Hedge funds have recently bought and sold shares of the business. Newtyn Management LLC purchased a new stake in shares of Mitek Systems in the fourth quarter valued at approximately $12,942,000. Tyro Capital Management LLC acquired a new position in Mitek Systems during the fourth quarter worth $9,240,000. Renaissance Technologies LLC grew its holdings in Mitek Systems by 1,460.5% in the 2nd quarter. Renaissance Technologies LLC now owns 518,100 shares of the software maker’s stock valued at $4,787,000 after buying an additional 484,900 shares in the last quarter. Blue Grotto Capital LLC increased its stake in shares of Mitek Systems by 14.6% in the 1st quarter. Blue Grotto Capital LLC now owns 2,614,842 shares of the software maker’s stock worth $38,359,000 after acquiring an additional 333,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Mitek Systems by 17.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,382,729 shares of the software maker’s stock worth $18,031,000 after acquiring an additional 210,178 shares during the period. Institutional investors and hedge funds own 83.64% 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.