Insider Selling: Michael S. Strange Sells 2,459 Shares of Mitek Systems Stock (MITK)
Mitek Systems (NASDAQ:MITK) CTO Michael S. Strange sold 2,459 shares of the stock on the open market in a transaction dated Thursday, July 31st. The stock was sold at an average price of $3.15, for a total value of $7,745.85. Following the completion of the sale, the chief technology officer now directly owns 48,478 shares in the company, valued at approximately $152,706. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Mitek Systems from a “neutral” rating to an “outperform” rating in a research note on Tuesday. They now have a $3.90 price target on the stock.
Mitek Systems (NASDAQ:MITK) traded down 2.54% on Friday, hitting $3.07. 252,027 shares of the company’s stock traded hands. Mitek Systems has a 52-week low of $2.96 and a 52-week high of $7.11. The stock’s 50-day moving average is $3.34 and its 200-day moving average is $4.10. The company’s market cap is $93.6 million.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, July 24th. The company reported ($0.05) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.08) by $0.03. The company had revenue of $4.70 million for the quarter, compared to the consensus estimate of $4.74 million. During the same quarter last year, the company posted ($0.02) earnings per share. Mitek Systems’s revenue was up 20.1% compared to the same quarter last year. Analysts expect that Mitek Systems will post $-0.24 EPS for the current fiscal year.
Mitek Systems, Inc (NASDAQ:MITK) is engaged in the development, sale and service of software solutions related to mobile imaging applications and intelligent recognition software.
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