Alkami Technology (NASDAQ:ALKT) Sees Unusually-High Trading Volume – Here’s Why

Alkami Technology, Inc. (NASDAQ:ALKT) saw unusually-high trading volume on Monday . Approximately 1,462,884 shares were traded during mid-day trading, an increase of 123% from the previous session’s volume of 654,683 shares.The stock last traded at $25.32 and had previously closed at $25.26.

Wall Street Analysts Forecast Growth

ALKT has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their target price 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. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a research note on Thursday. Finally, Barclays reduced their price target on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Two 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Alkami Technology Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The company’s fifty day simple moving average is $32.54 and its 200-day simple moving average is $34.65. The company has a market capitalization of $2.62 billion, a P/E ratio of -54.50 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $89.63 million. Research analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the firm’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 $529,407.69. Following the completion of the transaction, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,767 shares of company stock worth $4,004,934 in the last three months. Corporate insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

A number of large investors have recently added to or reduced their stakes in ALKT. Essex Investment Management Co. LLC acquired a new position in Alkami Technology during the fourth quarter worth $34,000. Advisors Asset Management Inc. grew its holdings in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares in the last quarter. Quarry LP purchased a new stake in shares of Alkami Technology during the fourth quarter worth $61,000. Neo Ivy Capital Management purchased a new stake in shares of Alkami Technology in the fourth quarter valued at about $96,000. Finally, Blue Trust Inc. grew its holdings in shares of Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after purchasing an additional 1,974 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.