Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mitek Systems Inc shares valued at $609,387 were sold by CARNECCHIA SCIPIO MAXIMUS on Dec 07 ’23. At $10.86 per share, CARNECCHIA SCIPIO MAXIMUS sold 56,113 shares. The insider’s holdings dropped to 500,795 shares worth approximately $7.34 million following the completion of this transaction.
Also, Diamond Michael E sold 7,242 shares, netting a total of over 78,648 in proceeds. Following the sale of shares at $10.86 each, the insider now holds 266,304 shares.
Before that, Briggs Christopher H had sold 2,287 shares from its account. In a trade valued at $24,837, the SVP Identity traded Mitek Systems Inc shares for $10.86 each. Upon closing the transaction, the insider’s holdings decreased to 2,287 shares, worth approximately $1.36 million.
As published in their initiating research note from Craig Hallum on December 14, 2023, Mitek Systems Inc [MITK] has been a Buy and the price target has been revised to $17. Earlier on August 12, 2021, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for MITK stock.
Analyzing MITK Stock Performance
During the last five days, there has been a surge of approximately 2.88%. Over the course of the year, Mitek Systems Inc shares have jumped approximately 12.42%. Shares of the company reached a 52-week high of $14.99 on 04/05/24 and a 52-week low of $11.15 on 03/20/24. A 50-day SMA is recorded $12.60, while a 200-day SMA reached $11.64. Nevertheless, trading volume fell to 0.69 million shares from 0.3 million shares the previous day.
Support And Resistance Levels for Mitek Systems Inc (MITK)
According to the 24-hour chart, there is a support level at 14.32, which, if violated, would cause prices to drop to 13.98. In the upper region, resistance lies at 14.85. The next price resistance is at 15.04. RSI (Relative Strength Index) is 69.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.49, which suggests the price will decrease in the coming days. Percent R is at 12.04%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Mitek Systems Inc subject to short interest?
Stocks of Mitek Systems Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.47 million shares to 3.54 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.07 million shares. A jump of 13.28% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.86 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.86.
