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Mitek Systems (MITK) in Focus: Stock Goes Down 5.9%

Zacks Equity Research

Mitek Systems, Inc. (MITK) saw a big move in the last trading session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend of the company, as MITK is now trading within the volatile price range of $3.14 to $3.56 in the past one-month time frame.

The company, a developer of software solutions related to mobile imaging, has not seen any estimate revision over the past month, and the current year earnings consensus hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, especially on earnings estimates following the recent slump.

MITK currently holds a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

Investors interested in the Computer & Technology sector may consider better-ranked stocks like Ametek Inc. (AME), Canon Inc. (CAJ) and Pitney Bowes Inc. (PBI), each of which holds a Zacks Rank #2 (Buy).

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