Short Interest in Alkami Technology, Inc. (NASDAQ:ALKT) Increases By 34.6%

Alkami Technology, Inc. (NASDAQ:ALKT) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 4,400,000 shares, a growth of 34.6% from the March 15th total of 3,270,000 shares. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is presently 3.8 days. Currently, 6.8% of the company’s stock are sold short.

Analysts Set New Price Targets

Several equities research analysts have commented on ALKT shares. The Goldman Sachs Group cut their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Barclays dropped their target price on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Finally, Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.38.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $24.75 on Monday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.55 billion, a P/E ratio of -52.66 and a beta of 0.56. Alkami Technology has a 12 month low of $21.70 and a 12 month high of $42.29. The stock has a 50 day moving average of $27.18 and a 200-day moving average of $33.55.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. As a group, equities research analysts predict that Alkami Technology will post -0.34 EPS for the current year.

Insider Transactions at Alkami Technology

In other 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 $13,703,354.20. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology 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 $132,526.78. Following the completion of the sale, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology during the 4th quarter worth approximately $34,000. Perkins Coie Trust Co increased its position in Alkami Technology by 62.5% during the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the period. Versant Capital Management Inc bought a new stake in shares of Alkami Technology in the first quarter valued at about $36,000. NBC Securities Inc. grew its stake in shares of Alkami Technology by 114,550.0% in the first quarter. NBC Securities Inc. now owns 2,293 shares of the company’s stock valued at $60,000 after acquiring an additional 2,291 shares in the last quarter. Finally, Quarry LP bought a new position in Alkami Technology during the fourth quarter worth about $61,000. Institutional investors own 54.97% of the company’s stock.

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.