The stock of Mitek Systems Inc (MITK) has seen a -27.82% decrease in the past week, with a -33.73% drop in the past month, and a -41.54% decrease in the past quarter. The volatility ratio for the week is 6.56%, and the volatility levels for the past 30 days are at 4.46% for MITK. The simple moving average for the past 20 days is -31.15% for MITK’s stock, with a -33.31% simple moving average for the past 200 days.
Is It Worth Investing in Mitek Systems Inc (NASDAQ: MITK) Right Now?
The stock has a 36-month beta value of 1.16. Opinions on the stock are mixed, with 3 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for MITK is 45.24M, and at present, short sellers hold a 10.52% of that float. On August 14, 2024, the average trading volume of MITK was 612.15K shares.
MITK) stock’s latest price update
The stock of Mitek Systems Inc (NASDAQ: MITK) has decreased by -3.90 when compared to last closing price of 8.42.Despite this, the company has seen a loss of -27.82% in its stock price over the last five trading days. zacks.com reported 2024-08-08 that Mitek Systems (MITK) came out with quarterly earnings of $0.25 per share, missing the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.20 per share a year ago.
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 -30.23% 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 -50.18% of loss for the given period.
Volatility was left at 4.46%, however, over the last 30 days, the volatility rate increased by 6.56%, as shares sank -31.74% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -32.41% lower at present.
During the last 5 trading sessions, MITK fell by -26.32%, which changed the moving average for the period of 200-days by -17.81% in comparison to the 20-day moving average, which settled at $11.56. In addition, Mitek Systems Inc saw -37.95% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MITK starting from CARNECCHIA SCIPIO MAXIMUS, who proposed sale 100,000 shares at the price of $13.35 back on Jul 29 ’24. After this action, CARNECCHIA SCIPIO MAXIMUS now owns shares of Mitek Systems Inc, valued at $1,335,000 using the latest closing price.
Briggs Christopher H, the SVP Identity of Mitek Systems Inc, sale 24,000 shares at $11.10 during a trade that took place back on Jun 14 ’24, which means that Briggs Christopher H is holding 68,673 shares at $266,400 based on the most recent closing price.
Stock Fundamentals for MITK
Current profitability levels for the company are sitting at:
- 0.01 for the present operating margin
- 0.83 for the gross margin
The net margin for Mitek Systems Inc stands at -0.04. The total capital return value is set at 0.0. Equity return is now at value -3.23, with -1.63 for asset returns.
Based on Mitek Systems Inc (MITK), the company’s capital structure generated 0.41 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 0.69. The interest coverage ratio of the stock is 0.18.
Currently, EBITDA for the company is 40.56 million with net debt to EBITDA at 2.89. When we switch over and look at the enterprise to sales, we see a ratio of 2.63. The receivables turnover for the company is 2.85for trailing twelve months and the total asset turnover is 0.41. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.46.
Conclusion
To sum up, Mitek Systems Inc (MITK) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others 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.
