Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 1,290,000 shares, a growth of 13.2% from the June 15th total of 1,140,000 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 470,300 shares, the short-interest ratio is currently 2.7 days.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Alkami Technology in a research note on Tuesday, June 25th. JMP Securities reissued a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research note on Monday, April 15th. Barclays upped their price objective on Alkami Technology from $28.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Finally, Craig Hallum upped their price objective on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.00.
View Our Latest Stock Report on ALKT
Insiders Place Their Bets
In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the completion of the sale, the director now directly owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $25.72, for a total value of $2,572,000.00. Following the transaction, the chief financial officer now owns 489,340 shares in the company, valued at approximately $12,585,824.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the transaction, the director now owns 17,186,985 shares in the company, valued at approximately $455,970,712.05. The disclosure for this sale can be found here. Insiders sold 1,848,472 shares of company stock valued at $49,241,550 in the last ninety days. Insiders own 38.00% of the company’s stock.
Institutional Investors Weigh In On Alkami Technology
A number of institutional investors and hedge funds have recently modified their holdings of ALKT. NBC Securities Inc. acquired a new position in shares of Alkami Technology in the fourth quarter valued at approximately $43,000. Perkins Coie Trust Co acquired a new stake in Alkami Technology in the second quarter valued at $85,000. Quest Partners LLC bought a new position in shares of Alkami Technology in the fourth quarter valued at about $113,000. Acadian Asset Management LLC bought a new position in shares of Alkami Technology in the first quarter valued at about $140,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Alkami Technology by 253.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock valued at $182,000 after purchasing an additional 5,445 shares during the period. 54.97% of the stock is owned by institutional investors.
Alkami Technology Trading Up 2.9 %
Shares of NASDAQ:ALKT opened at $31.65 on Tuesday. The firm has a market capitalization of $3.09 billion, a P/E ratio of -52.75 and a beta of 0.47. The firm has a fifty day moving average of $27.62 and a two-hundred day moving average of $25.59. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology has a 12-month low of $14.93 and a 12-month high of $31.73.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The company had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The business’s revenue was up 26.8% compared to the same quarter last year. On average, equities analysts expect that Alkami Technology will post -0.38 EPS for the current fiscal year.
Alkami Technology Company Profile
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.
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