Mitek Systems (MITK) Shares are Up 10.8%

Mitek Systems (MITK) has been under a strong bear grip, hence the stock is down -1.64% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 10.74% in the past 1 week. The stock has risen by 10.8% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.62% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 4.99% and the 50-Day Moving Average is 6.61%. Mitek Systems (NASDAQ:MITK): stock turned positive on Friday. Though the stock opened at $7.77, the bulls momentum made the stock top out at $8.015 level for the day. The stock recorded a low of $7.7 and closed the trading day at $8, in the green by 2.04%. The total traded volume for the day was 580,458. The stock had closed at $7.84 in the previous days trading.


The company Insiders own 9.06% of Mitek Systems shares according to the proxy statements. Institutional Investors own 37.07% of Mitek Systems shares. During last six month period, the net percent change held by insiders has seen a change of -6.53%. Also, Needham upgrades its rating on Mitek Systems (NASDAQ:MITK). Analysts at the Needham have a current rating of Buy on the shares. The shares were previously rated Hold. The rating by the firm was issued on July 12, 2016.

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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