Mitek Systems Inc (NASDAQ: MITK) has seen a decline in its stock price by -2.43 in relation to its previous close of 8.90. However, the company has experienced a -4.15% decline in its stock price over the last five trading sessions. zacks.com reported 2024-12-09 that MITK unveils the DFD tool (available with the Mitek Verified Identity Platform) to aid businesses in combating GenAI-driven identity fraud, including deepfakes.
Is It Worth Investing in Mitek Systems Inc (NASDAQ: MITK) Right Now?
Additionally, the 36-month beta value for MITK is 1.12. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The public float for MITK is 45.18M and currently, short sellers hold a 8.36% ratio of that float. The average trading volume of MITK on December 13, 2024 was 470.70K shares.
MITK’s Market Performance
The stock of Mitek Systems Inc (MITK) has seen a -4.15% decrease in the past week, with a -8.21% drop in the past month, and a 3.25% gain in the past quarter. The volatility ratio for the week is 2.77%, and the volatility levels for the past 30 days are at 3.04% for MITK. The simple moving average for the last 20 days is -4.57% for MITK stock, with a simple moving average of -20.16% for the last 200 days.
Analysts’ Opinion of MITK
Many brokerage firms have already submitted their reports for MITK stocks, with Jefferies repeating the rating for MITK by listing it as a “Hold.” The predicted price for MITK in the upcoming period, according to Jefferies is $9.50 based on the research report published on September 04, 2024 of the current year 2024.
Craig Hallum, on the other hand, stated in their research note that they expect to see MITK reach a price target of $17. The rating they have provided for MITK stocks is “Buy” according to the report published on December 14th, 2023.
Jefferies gave a rating of “Buy” to MITK, setting the target price at $13 in the report published on October 31st of the previous year.
MITK Trading at -3.55% 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 -46.53% of loss for the given period.
Volatility was left at 3.04%, however, over the last 30 days, the volatility rate increased by 2.77%, as shares sank -6.49% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.89% upper at present.
During the last 5 trading sessions, MITK fell by -4.64%, which changed the moving average for the period of 200-days by -25.58% in comparison to the 20-day moving average, which settled at $9.10. In addition, Mitek Systems Inc saw -33.41% 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 Gray Jason, who sale 6,222 shares at the price of $9.07 back on Dec 11 ’24. After this action, Gray Jason now owns 164,342 shares of Mitek Systems Inc, valued at $56,434 using the latest closing price.
Briggs Christopher H, the SVP Identity of Mitek Systems Inc, sale 3,320 shares at $9.08 during a trade that took place back on Dec 03 ’24, which means that Briggs Christopher H is holding 65,353 shares at $30,133 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
- 0.85 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 0.05.
Currently, EBITDA for the company is 39.62 million with net debt to EBITDA at 3.96. When we switch over and look at the enterprise to sales, we see a ratio of 2.78. 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
In conclusion, Mitek Systems Inc (MITK) has seen bad 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.
