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Mitek Systems Inc. (MITK) Stock Could Soon Reward Patient Investors

Mitek Systems Inc. (NASDAQ: MITK) is -47.04% lower on its value in year-to-date trading and has touched a low of $8.32 and a high of $23.29 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MITK stock was last observed hovering at around $8.90 in the last trading session, with the day’s gains setting it 0.5%.

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Currently trading at $9.40, the stock is 2.46% and 0.74% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.78 million and changing 5.62% at the moment leaves the stock -34.99% off its SMA200. MITK registered -48.97% loss for a year compared to 6-month loss of -43.81%. The firm has a 50-day simple moving average (SMA 50) of $9.29 and a 200-day simple moving average (SMA200) of $14.42.

The stock witnessed a 7.55% gain in the last 1 month and extending the period to 3 months gives it a -31.14%, and is -4.67% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.47% over the week and 4.46% over the month.

Mitek Systems Inc. (MITK) has around 435 employees, a market worth around $394.71M and $132.20M in sales. Current P/E ratio is 43.93 and Fwd P/E is 9.20. Profit margin for the company is 7.40%. Distance from 52-week low is 12.97% and -59.64% from its 52-week high. The company has generated returns on investments over the last 12 months (4.00%).

Mitek Systems Inc. is expected to release its quarterly report on 11/03/2022.The EPS is expected to shrink by -3.70% this year.

Mitek Systems Inc. (MITK) Top Institutional Holders

The shares outstanding are 44.77M, and float is at 42.90M with Short Float at 7.58%.

Mitek Systems Inc. (MITK) Insider Activity

A total of 17 insider transactions have happened at Mitek Systems Inc. (MITK) in the last six months, with sales accounting for 5 and purchases happening 12 times. The most recent transaction is an insider sale by Diamond Michael E,the company’sGeneral Manager. SEC filings show that Diamond Michael E sold 572 shares of the company’s common stock on Mar 25 at a price of $14.22 per share for a total of $8134.0. Following the sale, the insider now owns 0.21 million shares.

Mitek Systems Inc. disclosed in a document filed with the SEC on Mar 22 that Diamond Michael E (General Manager) sold a total of 3,696 shares of the company’s common stock. The trade occurred on Mar 22 and was made at $14.20 per share for $52483.0. Following the transaction, the insider now directly holds 0.21 million shares of the MITK stock.

Still, SEC filings show that on Mar 22, Gray Jason (GC, Secretary & Admin Officer) disposed off 3,589 shares at an average price of $14.20 for $50964.0. The insider now directly holds 118,921 shares of Mitek Systems Inc. (MITK).

Mitek Systems Inc. (MITK): Who are the competitors?

The company’s main competitors (and peers) include Fair Isaac Corporation (FICO) that is trading -17.53% down over the past 12 months and Jack Henry & Associates Inc. (JKHY) that is 11.33% higher over the same period. NCR Corporation (NCR) is -36.08% down on the 1-year trading charts. Short interest in the company’s stock has risen 1.91% from the last report on Apr 28, 2022 to stand at a total of 3.08 million short shares sold with a short interest ratio of 6.72.

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