NEW YORK ( TheStreet) -- Shares of Mitek Systems (Nasdaq: MITK) were gapping down Tuesday morning with an open price 13% lower than Monday's closing price. The stock closed at $9.36 Monday and opened today's trading at $8.14.

The average volume for Mitek Systems has been 487,400 shares per day over the past 30 days. Mitek Systems has a market cap of $229 million and is part of the technology sector and computer software & services industry. Shares are up 54.7% year to date as of the close of trading on Monday.

Mitek Systems, Inc. develops, sells, and services software solutions related to mobile imaging applications and intelligent recognition software in the United Stats and Internationally. The company has a P/E ratio of 955, 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 solid stock price performance, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. 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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