Mitek Systems June 15th Short Interest Update

Mitek Systems (NASDAQ:MITK), A rise of 622,080 shares or 47.1% was seen in the short interest of Mitek Systems, Inc.. Even as the interest increased from 1,319,950 shares on May 31,2016 to 1,942,030 shares on June 15,2016, the days to cover came in at 2. The updated interest stood at 6.2% of the stocks floats. The stock has seen an average daily volume of 1,036,236 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Mitek Systems (NASDAQ:MITK): The stock opened at $7.00 on Friday but the bulls could not build on the opening and the stock topped out at $7.16 for the day. The stock traded down to $6.75 during the day, due to lack of any buying support eventually closed down at $6.77 with a loss of -7.13% for the day. The stock had closed at $7.29 on the previous day. The total traded volume was 4,169,817 shares.

The company shares have rallied 77.69% from its 1 Year high price. On May 25, 2016, the shares registered one year high at $9.49 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $8.15 and the 200 Day Moving Average price is recorded at $6.06.

Mitek Systems (NASDAQ:MITK) has tumbled 7.58% during the past week and has dropped 26.01% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 6.04%. Mitek Systems (NASDAQ:MITK) has underperformed the index by 23.77% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Mitek Systems Inc. (Mitek) is a provider of mobile solutions. The Company is engaged in the development, sale and service of software solutions related to mobile imaging. The Companys technology allows users to deposit checks, pay bills, transfer credit card balances, open accounts and get insurance quotes by taking pictures of various documents with their camera-equipped smartphones and tablets. IDchecker, Inc., a part of the Company, offers Strong ID product, which provides identity document authentication solutions, including passports, driver licenses and identity cards across the world, and Facelink facial recognition technology, which is a multi-factor identity verification, enables organizations to confirm the authenticity of an identity document and match it to the person presenting the document during a mobile transaction.

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