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

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

Alkami Technology Stock Down 1.0 %

Shares of ALKT opened at $33.67 on Wednesday. The firm has a 50 day simple moving average of $31.72 and a two-hundred day simple moving average of $29.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75. Alkami Technology has a one year low of $16.71 and a one year high of $36.00. The company has a market cap of $3.28 billion, a P/E ratio of -56.12 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 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The company had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $81.32 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. Alkami Technology’s revenue was up 24.9% on a year-over-year basis. Research analysts forecast that Alkami Technology will post -0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, major shareholder George B. Kaiser sold 1,666,666 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,949,979.22. Following the transaction, the insider now directly owns 8,419,784 shares of the company’s stock, valued at $262,444,667.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder George B. Kaiser sold 1,666,666 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.17, for a total value of $51,949,979.22. Following the transaction, the insider now owns 8,419,784 shares of the company’s stock, valued at approximately $262,444,667.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Bohanon sold 35,893 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $33.60, for a total value of $1,206,004.80. Following the transaction, the insider now owns 403,786 shares in the company, valued at approximately $13,567,209.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,648,416 shares of company stock valued at $113,920,758 over the last ninety days. 38.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALKT. Park Place Capital Corp bought a new stake in shares of Alkami Technology during the 3rd quarter valued at approximately $28,000. Point72 Asset Management L.P. bought a new stake in shares of Alkami Technology during the second quarter worth $40,000. NBC Securities Inc. increased its holdings in shares of Alkami Technology by 61.6% during the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after buying an additional 1,102 shares in the last quarter. Perkins Coie Trust Co acquired a new position in shares of Alkami Technology during the second quarter worth $85,000. Finally, nVerses Capital LLC bought a new position in shares of Alkami Technology in the 2nd quarter valued at $88,000. 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.