Alkami Technology, Inc. (NASDAQ:ALKT – Get Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $11.65, but opened at $11.31. Alkami Technology shares last traded at $11.25, with a volume of 623 shares.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on ALKT. Stephens began coverage on Alkami Technology in a report on Wednesday, September 14th. They issued an “overweight” rating and a $18.00 price target on the stock. Needham & Company LLC increased their price target on Alkami Technology from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, Barclays increased their price target on Alkami Technology from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.
Alkami Technology Stock Performance
The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $14.53 and a two-hundred day moving average price of $13.97.
Institutional Trading of Alkami Technology
Large investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its position in Alkami Technology by 87.9% in the second quarter. Los Angeles Capital Management LLC now owns 127,891 shares of the company’s stock worth $1,776,000 after buying an additional 59,824 shares during the last quarter. SG Americas Securities LLC increased its position in Alkami Technology by 38.4% in the second quarter. SG Americas Securities LLC now owns 57,951 shares of the company’s stock worth $805,000 after buying an additional 16,076 shares during the last quarter. Amalgamated Bank purchased a new stake in Alkami Technology in the first quarter worth $65,000. Royce & Associates LP grew its position in shares of Alkami Technology by 44.4% in the third quarter. Royce & Associates LP now owns 34,800 shares of the company’s stock valued at $524,000 after purchasing an additional 10,700 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Alkami Technology in the third quarter valued at $281,000. 52.74% of the stock is owned by hedge funds and other institutional investors.
About Alkami Technology
Alkami Technology, Inc offers a cloud-based digital banking platform in the United States. The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.
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