Mitek Systems Stock Falls On Unusually High Volume (MITK)

NEW YORK ( TheStreet) -- Mitek Systems (Nasdaq: MITK) is trading at unusually high volume Monday with two million shares changing hands. It is currently at four times its average daily volume and trading down 71 cents (-9.7%) at $6.64 as of 1:55 p.m. ET.

Mitek Systems has a market cap of $219.2 million and is part of the technology sector and computer software & services industry. Shares are up 1.1% year to date as of the close of trading on Thursday.

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 245, 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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