Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Down 8.1% in October

Alkami Technology, Inc. (NASDAQ:ALKT) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,020,000 shares, a drop of 8.1% from the September 30th total of 1,110,000 shares. Based on an average trading volume of 561,500 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.0% of the shares of the stock are sold short.

Alkami Technology Price Performance

ALKT stock opened at $38.64 on Wednesday. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of -64.40 and a beta of 0.46. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05. Alkami Technology has a 12-month low of $17.32 and a 12-month high of $39.48. The company’s fifty day simple moving average is $32.88 and its 200 day simple moving average is $29.99.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $81.32 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The business’s revenue was up 24.9% compared to the same quarter last year. On average, analysts expect that Alkami Technology will post -0.36 earnings per share for the current year.

Insider Activity at Alkami Technology

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this link. In other Alkami Technology news, CFO W Bryan Hill sold 55,046 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total value of $1,716,884.74. Following the sale, the chief financial officer now owns 471,403 shares in the company, valued at $14,703,059.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,648,416 shares of company stock valued at $113,920,758 over the last three months. 38.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ALKT. Park Place Capital Corp bought a new stake in Alkami Technology in the third quarter valued at $28,000. Blue Trust Inc. increased its position in shares of Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Alkami Technology during the second quarter worth about $40,000. Perkins Coie Trust Co bought a new stake in shares of Alkami Technology during the second quarter worth about $85,000. Finally, nVerses Capital LLC bought a new stake in shares of Alkami Technology during the second quarter worth about $88,000. 54.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JMP Securities lifted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday. Needham & Company LLC lifted their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Lake Street Capital lifted their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays lifted their price target on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Craig Hallum lifted their price target on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.22.

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.