Short Interest in Alkami Technology, Inc. (NASDAQ:ALKT) Increases By 116.6%

Alkami Technology, Inc. (NASDAQ:ALKT) saw 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. Currently, 5.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,010,000 shares, the short-interest ratio is currently 3.2 days.

Analyst Ratings Changes

ALKT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. The Goldman Sachs Group cut their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Barclays lowered their price target on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Finally, Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a report on Thursday, March 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Alkami Technology Trading Down 2.2 %

Shares of Alkami Technology stock opened at $26.87 on Friday. The firm has a 50-day simple moving average of $31.02 and a two-hundred day simple moving average of $34.28. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The company has a market cap of $2.75 billion, a P/E ratio of -57.17 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $89.63 million. As a group, equities analysts predict that Alkami Technology will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC purchased a new position in Alkami Technology during the fourth quarter valued at $34,000. Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the last quarter. Quarry LP purchased a new position in Alkami Technology in the 4th quarter valued at about $61,000. Neo Ivy Capital Management acquired a new stake in Alkami Technology in the 4th quarter worth about $96,000. Finally, Blue Trust Inc. boosted its holdings in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after buying an additional 1,974 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.