Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Update

Alkami Technology, Inc. (NASDAQ:ALKT) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,270,000 shares, an increase of 116.6% from the February 28th total of 1,510,000 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,010,000 shares, the short-interest ratio is currently 3.2 days.

Alkami Technology Stock Down 1.7 %

NASDAQ ALKT opened at $26.41 on Friday. The stock’s 50 day simple moving average is $30.84 and its 200 day simple moving average is $34.29. Alkami Technology has a one year low of $22.65 and a one year high of $42.29. The firm has a market cap of $2.70 billion, a PE ratio of -56.19 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The business had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. As a group, sell-side analysts forecast that Alkami Technology will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the sale, the insider now owns 244,404 shares of the company’s stock, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 17,409 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at $13,703,354.20. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,767 shares of company stock worth $4,004,934. Company insiders own 25.90% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in shares of Alkami Technology in the third quarter valued at approximately $979,000. Advisors Asset Management Inc. increased its stake in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares during the period. Intech Investment Management LLC bought a new stake in shares of Alkami Technology during the third quarter worth $387,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Alkami Technology by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock valued at $16,854,000 after acquiring an additional 120,845 shares during the period. Finally, Loomis Sayles & Co. L P bought a new position in Alkami Technology in the third quarter valued at about $6,032,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ALKT shares. The Goldman Sachs Group dropped their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Barclays dropped their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price target on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

About Alkami Technology

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.