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

Alkami Technology, Inc. (NASDAQ:ALKT) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,140,000 shares, an increase of 37.8% from the May 31st total of 827,500 shares. Based on an average trading volume of 419,900 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.1% of the company’s stock are sold short.

Alkami Technology Trading Up 2.8 %

NASDAQ:ALKT opened at $28.48 on Monday. The firm has a market capitalization of $2.78 billion, a P/E ratio of -47.47 and a beta of 0.46. The business has a 50 day simple moving average of $26.45 and a 200 day simple moving average of $25.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92. Alkami Technology has a 12-month low of $14.93 and a 12-month high of $29.28.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the business posted ($0.16) earnings per share. Equities research analysts predict that Alkami Technology will post -0.38 EPS for the current year.

Insider Transactions at Alkami Technology

In related news, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the transaction, the insider now owns 262,749 shares of the company’s stock, valued at $7,049,555.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the completion of the transaction, the chief financial officer now directly owns 505,877 shares of the company’s stock, valued at approximately $14,569,257.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 71,030 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the sale, the insider now owns 262,749 shares in the company, valued at approximately $7,049,555.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,848,472 shares of company stock valued at $49,241,550. 38.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Alkami Technology in the fourth quarter valued at approximately $43,000. Beaird Harris Wealth Management LLC boosted 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 buying an additional 500 shares during the period. Quest Partners LLC bought a new position in Alkami Technology in the 4th quarter worth approximately $113,000. Acadian Asset Management LLC acquired a new stake in Alkami Technology in the 1st quarter valued at approximately $140,000. Finally, Harvest Fund Management Co. Ltd increased its position in Alkami Technology by 253.0% in 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 during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on ALKT shares. JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Alkami Technology in a report 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 report on Tuesday, June 25th. Finally, Craig Hallum raised their price objective on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.56.

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.