Mitek Systems Inc (NASDAQ: MITK) is 6.75% higher on its value in year-to-date trading and has touched a low of $8.77 and a high of $13.98 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MITK stock was last observed hovering at around $13.23 in the last trading session, with the day’s gains setting it 0.69%.
Currently trading at $13.92, the stock is 16.15% and 14.25% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.82 million and changing 5.22% at the moment leaves the stock 21.74% off its SMA200. MITK registered 48.56% gain for a year compared to 6-month gain of 32.32%. The firm has a 50-day simple moving average (SMA 50) of $3.81 and a 200-day simple moving average (SMA200) of $17.10.
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The stock witnessed a 18.97% loss in the last 1 month and extending the period to 3 months gives it a 6.99%, and is 11.36% up 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 4.30% over the week and 4.11% over the month.
Mitek Systems Inc (MITK) has around 590 employees, a market worth around $651.32M and $172.55M in sales. Current P/E ratio is 79.14 and Fwd P/E is 11.58. Profit margin for the company is 4.65%. Distance from 52-week low is 58.63% and -0.43% from its 52-week high. The company has generated returns on investments over the last 12 months (2.33%).
Mitek Systems Inc quarterly earnings per share for the current quarter are estimated at $0.18 with sales reaching $38.94M over the same period.The EPS is expected to grow by 8.39% this year, but quarterly earnings will post 5.30% year-over-year.
233 institutions hold shares in Mitek Systems Inc (MITK), with institutional investors hold 80.02% of the company’s shares. The shares outstanding are 45.59M, and float is at 45.27M with Short Float at 6.98%. Institutions hold 77.47% of the Float.
The top institutional shareholder in the company is Blue Grotto Capital, LLC with over 4.12 million shares valued at $44.66 million. The investor’s holdings represent 9.04% of the MITK Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 3.5 million shares valued at $37.98 million to account for 7.68% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 3.29 million shares representing 7.22% and valued at over $35.69 million, while Legal & General Group PLC holds 6.39% of the shares totaling 2.91 million with a market value of $31.57 million.
Mitek Systems Inc (MITK) Insider Activity
The most recent transaction is an insider sale by CARNECCHIA SCIPIO MAXIMUS, the company’s Chief Executive Officer. SEC filings show that CARNECCHIA SCIPIO MAXIMUS sold 56,113 shares of the company’s common stock on Dec 07 ’23 at a price of $10.86 per share for a total of $0.61 million. Following the sale, the insider now owns 0.5 million shares.
Mitek Systems Inc disclosed in a document filed with the SEC on Dec 07 ’23 that Diamond Michael E (General Manager) sold a total of 7,242 shares of the company’s common stock. The trade occurred on Dec 07 ’23 and was made at $10.86 per share for $78648.0. Following the transaction, the insider now directly holds 0.27 million shares of the MITK stock.
Still, SEC filings show that on Dec 07 ’23, Briggs Christopher H (SVP Identity) disposed off 2,287 shares at an average price of $10.86 for $24837.0. The insider now directly holds 92,673 shares of Mitek Systems Inc (MITK).
