Alkami Technology, Inc. (NASDAQ:ALKT) Sees Large Increase in Short Interest

by · The Cerbat Gem

Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,140,000 shares, a growth of 37.8% from the May 31st total of 827,500 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average daily volume of 419,900 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Alkami Technology in a research note on Monday, April 15th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Alkami Technology in a research note on Tuesday, June 25th. Finally, Craig Hallum boosted their price objective on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Get Our Latest Research Report on ALKT

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $25.72, for a total transaction of $2,572,000.00. Following the completion of the sale, the chief financial officer now owns 489,340 shares of the company’s stock, valued at approximately $12,585,824.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Douglas A. Linebarger sold 71,030 shares of Alkami Technology stock in a transaction on Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the transaction, the insider now directly owns 262,749 shares in the company, valued at $7,049,555.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the company’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 completion of the sale, the chief financial officer now owns 489,340 shares of the company’s stock, valued at approximately $12,585,824.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,848,472 shares of company stock valued at $49,241,550. Insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. purchased a new position in Alkami Technology in the 4th quarter worth about $43,000. Beaird Harris Wealth Management LLC increased its position in shares of Alkami Technology by 31.7% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after acquiring an additional 500 shares during the period. Quest Partners LLC bought a new stake in shares of Alkami Technology in the fourth quarter valued at about $113,000. Acadian Asset Management LLC purchased a new stake in Alkami Technology in the first quarter worth about $140,000. Finally, Harvest Fund Management Co. Ltd boosted its position in Alkami Technology by 253.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock valued at $182,000 after acquiring an additional 5,445 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Stock Up 2.8 %

ALKT opened at $28.48 on Monday. The firm has a 50-day simple moving average of $26.45 and a two-hundred day simple moving average of $25.09. Alkami Technology has a 52 week low of $14.93 and a 52 week high of $29.28. The company has a market capitalization of $2.78 billion, a PE ratio of -47.47 and a beta of 0.46. 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 (NASDAQ:ALKT – Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. During the same period in the previous year, the firm posted ($0.16) EPS. The business’s quarterly revenue was up 26.8% on a year-over-year basis. Analysts forecast that Alkami Technology will post -0.38 earnings per share for the current fiscal year.

Alkami Technology Company Profile

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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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