The stock of Mitek Systems Inc (NASDAQ: MITK) has decreased by -9.71 when compared to last closing price of 14.83. Despite this, the company has experienced a -8.22% fall in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-16 that Astute investors become millionaires when certain possibilities in the stock market appear silently. These are three examples of quiet surges.
Is It Worth Investing in Mitek Systems Inc (NASDAQ: MITK) Right Now?
Mitek Systems Inc (NASDAQ: MITK) has a price-to-earnings ratio of 76.12x that is above its average ratio. Additionally, the 36-month beta value for MITK is 1.08. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for MITK is 45.31M and currently, short sellers hold a 7.81% ratio of that float. The average trading volume of MITK on April 17, 2024 was 443.10K shares.
MITK’s Market Performance
MITK’s stock has seen a -8.22% decrease for the week, with a 14.35% rise in the past month and a 13.47% gain in the past quarter. The volatility ratio for the week is 5.90%, and the volatility levels for the past 30 days are at 4.88% for Mitek Systems Inc The simple moving average for the last 20 days is -2.55% for MITK stock, with a simple moving average of 14.70% for the last 200 days.
Analysts’ Opinion of MITK
Many brokerage firms have already submitted their reports for MITK stocks, with Craig Hallum repeating the rating for MITK by listing it as a “Buy.” The predicted price for MITK in the upcoming period, according to Craig Hallum is $17 based on the research report published on December 14, 2023 of the previous year 2023.
Jefferies, on the other hand, stated in their research note that they expect to see MITK reach a price target of $13. The rating they have provided for MITK stocks is “Buy” according to the report published on October 31st, 2023.
Jefferies gave a rating of “Buy” to MITK, setting the target price at $13 in the report published on October 25th of the previous year.
MITK Trading at 5.63% from the 50-Day Moving Average
After a stumble in the market that brought MITK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -17.55% of loss for the given period.
Volatility was left at 4.88%, however, over the last 30 days, the volatility rate increased by 5.90%, as shares surge +9.75% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.27% upper at present.
During the last 5 trading sessions, MITK fell by -8.22%, which changed the moving average for the period of 200-days by +23.41% in comparison to the 20-day moving average, which settled at $13.80. In addition, Mitek Systems Inc saw 2.68% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MITK starting from CARNECCHIA SCIPIO MAXIMUS, who sale 56,113 shares at the price of $10.86 back on Dec 07 ’23. After this action, CARNECCHIA SCIPIO MAXIMUS now owns 500,795 shares of Mitek Systems Inc, valued at $609,387 using the latest closing price.
Diamond Michael E, the General Manager of Mitek Systems Inc, sale 7,242 shares at $10.86 during a trade that took place back on Dec 07 ’23, which means that Diamond Michael E is holding 266,304 shares at $78,648 based on the most recent closing price.
Stock Fundamentals for MITK
Current profitability levels for the company are sitting at:
- -0.0 for the present operating margin
- 0.89 for the gross margin
The net margin for Mitek Systems Inc stands at -0.02. The total capital return value is set at -0.0. Equity return is now at value 4.28, with 2.10 for asset returns.
Based on Mitek Systems Inc (MITK), the company’s capital structure generated 0.4 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 0.66. The interest coverage ratio of the stock is -0.06.
Currently, EBITDA for the company is 40.56 million with net debt to EBITDA at 2.7. When we switch over and look at the enterprise to sales, we see a ratio of 4.32. The receivables turnover for the company is 2.73for trailing twelve months and the total asset turnover is 0.4. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.69.
Conclusion
In conclusion, Mitek Systems Inc (MITK) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
