Mitek Systems, Inc. (MITK)

[Brenton]

Mitek Systems Incorporated Sellers Covered 4.6% of Their Shorts

July 31, 2016, Marguerite Chambers

The stock of Mitek Systems Incorporated (NASDAQ:MITK) registered a decrease of 4.6% in short interest. MITK’s total short interest was 2.37M shares in July as published by FINRA. Its down 4.6% from 2.49 million shares, reported previously. With 678,600 shares average volume, it will take short sellers 4 days to cover their MITK’s short positions. The short interest to Mitek Systems Incorporated’s float is 7.58%. The stock decreased 3.94% or $0.31 on July 29, hitting $7.55. About 660,154 shares traded hands. Mitek Systems, Inc. (NASDAQ:MITK) has risen 83.70% since December 23, 2015 and is uptrending. It has outperformed by 78.40% the S&P500.

Mitek Systems, Inc. develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The company has a market cap of $233.63 million. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with camera-equipped smartphones and tablets instead of using the device keyboard. It has a 113.81 P/E ratio. The Company’s technology uses algorithms to correct image distortion, extract relevant data, route images to their desired location and process transactions.

The institutional sentiment decreased to 1.63 in Q1 2016. Its down 0.90, from 2.53 in 2015Q4. The ratio worsened, as 13 funds sold all Mitek Systems, Inc. shares owned while 17 reduced positions. 28 funds bought stakes while 21 increased positions. They now own 10.15 million shares or 13.44% more from 8.95 million shares in 2015Q4.

Thompson Davis & Co. Inc. holds 0.98% of its portfolio in Mitek Systems, Inc. for 100,610 shares. Messner & Smith Theme Value Investment Management Ltd Ca owns 62,035 shares or 0.8% of their US portfolio. Moreover, White Pine Capital Llc has 0.73% invested in the company for 259,137 shares. The Pennsylvania-based Wealthtrust Axiom Llc has invested 0.61% in the stock. Eam Investors Llc, a California-based fund reported 472,806 shares.

Out of 2 analysts covering Mitek Systems (NASDAQ:MITK), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Mitek Systems has been the topic of 3 analyst reports since January 8, 2016 according to StockzIntelligence Inc.


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Source: http://www.consumereagle.com/mitek-systems-incorporated-nasdaqmitk-sellers-covered-4-6-of-their-shorts/66199/