Short Interest in Alkami Technology, Inc. (NASDAQ:ALKT) Expands By 7.8%

Alkami Technology, Inc. (NASDAQ:ALKT) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,110,000 shares, a growth of 7.8% from the September 15th total of 1,030,000 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 530,800 shares, the short-interest ratio is currently 2.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ALKT shares. Craig Hallum upped their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities upped their price objective on Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. Barclays increased their price objective on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Lake Street Capital boosted their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC raised their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.89.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the transaction, the director now directly owns 784,549 shares in the company, valued at approximately $24,454,392.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Brian R. Smith sold 83,333 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the transaction, the director now directly owns 784,549 shares in the company, valued at approximately $24,454,392.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the sale, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,648,416 shares of company stock valued at $113,920,758. Corporate insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Park Place Capital Corp bought a new stake in Alkami Technology in the third quarter valued at approximately $28,000. Point72 Asset Management L.P. bought a new stake in Alkami Technology in the 2nd quarter valued at $40,000. NBC Securities Inc. lifted its holdings in Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after purchasing an additional 1,102 shares during the last quarter. Perkins Coie Trust Co bought a new position in Alkami Technology during the second quarter worth $85,000. Finally, nVerses Capital LLC acquired a new position in shares of Alkami Technology in the second quarter valued at $88,000. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Trading Up 2.7 %

Shares of Alkami Technology stock opened at $34.83 on Friday. Alkami Technology has a 12-month low of $17.28 and a 12-month high of $36.00. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $31.78 and its 200-day moving average is $29.11. The stock has a market cap of $3.40 billion, a P/E ratio of -58.05 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The firm had revenue of $82.16 million for the quarter, compared to analyst estimates of $81.32 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities research analysts predict that Alkami Technology will post -0.36 earnings per share for the current fiscal year.

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.