Mitek Systems Stock Gaps Down On Today's Open (MITK)

NEW YORK (TheStreet) -- Shares of Mitek Systems (Nasdaq:MITK) were gapping down Thursday morning with an open price 47.8% lower than Wednesday's closing price. The stock closed at $5.78 Wednesday and opened today's trading at $3.02.

The average volume for Mitek Systems has been 1.1 million shares per day over the past 30 days. Mitek Systems has a market cap of $140.4 million and is part of the technology sector and computer software & services industry. Shares are down 20.3% year to date as of the close of trading on Wednesday.

Mitek Systems, Inc. engages in the development, sale, and service of software solutions related to mobile imaging solutions and intelligent character recognition software. The company has a P/E ratio of 189.7, below the average computer software & services industry P/E ratio of 284.5 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Mitek Systems as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Mitek Systems Ratings Report.

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