Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) has seen a significant increase in short interest in the month of June. As of June 30, short interest totaled 1,290,000 shares, up 13.2% from a total of 1,140,000 shares on June 15. Based on an average daily trading volume of 470,300 shares, the short interest ratio is currently at 2.7 days. Currently, 2.4% of the company’s shares are sold short.
Wall Street analysts predict growth
Several research firms have recently issued reports on ALKT. Craig Hulme boosted their price target on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Barclays boosted their price target on Alkami Technology from $28.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target for Alkami Technology in a research note on Monday, April 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target for Alkami Technology in a research note on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating. Based on MarketBeat data, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.
Get the latest ALKT stock report
Alkami Technology shares up 1.2%
Shares of NASDAQ:ALKT opened trading at $30.75 on Monday. The company has a market cap of $3 billion, a price-to-earnings ratio of -51.25 and a beta of 0.47. Alkami Technology’s low in the past 12 months is $14.93 and its high in the past 12 months is $31.31. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $27.53 and its 200-day moving average price is $25.54.
Alkami Technology (NASDAQ:ALKT – get free report ) last released its quarterly earnings data on Wednesday, May 1st. The company reported quarterly earnings per share (EPS) of $0.05, beating the consensus estimate of $0.02 by $0.03. The company’s quarterly revenue was $76.10 million, beating analyst expectations of $75.57 million. Alkami Technology had a return on equity of -15.31% and a net margin of -20.42%. The company’s quarterly revenue grew 26.8% year-over-year. EPS for the same period last year was ($0.16). Equity research analysts expect Alkami Technology to post earnings per share of -$0.38 this year.
Internal Activities at Alkami Technology
In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $28.80, for a total value of $2,880,000.00. Following the completion of the sale, the CFO now owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $28.80, for a total value of $2,880,000.00. Following the completion of the transaction, the Chief Financial Officer now directly owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The transaction was disclosed in a document filed with the SEC, which can be viewed on the SEC’s website. Additionally, the Director, Atlantic Genper (Bellum General) sold 1,542,821 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total transaction value of $40,931,041.13. Following the completion of the sale, the Director now directly owns 17,186,985 shares of the company’s stock, valued at $455,970,712.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,848,472 shares of the company’s stock, valued at $49,241,550.Corporate insiders own 38.00% of the company’s stock.
Institutional investor inflows and outflows
Several institutional investors and hedge funds recently bought and sold shares of ALKT. Swiss National Bank increased its holdings in Alkami Technology by 1.3% in the first quarter. The Swiss National Bank now holds 84,700 shares of the company’s stock, valued at $2,081,000, after purchasing an additional 1,100 shares in the last quarter. NBC Securities Inc. increased its holdings in Alkami Technology by 61.6% in the first quarter. NBC Securities Inc. now holds 2,892 shares of the company’s stock, valued at $71,000, after purchasing an additional 1,102 shares in the last quarter. Penbrook Management LLC increased its holdings in Alkami Technology by 2.3% in the fourth quarter. Penbrook Management LLC now holds 61,950 shares of the company’s stock, valued at $1,502,000, after purchasing an additional 1,400 shares in the period. Price T Rowe Associates Inc. MD increased its holdings in Alkami Technology by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock valued at $283,000 after purchasing an additional 1,460 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Alkami Technology in the fourth quarter worth about $113,000. 54.97% of the stock is owned by hedge funds and other institutional investors.
About Alkami Technology
(Get your free report)
Alkami Technology, Inc provides cloud-based digital banking solutions in the U.S. The company’s Alkami platform enables financial institutions to onboard and engage new users, accelerate revenue, and increase operational efficiency with support from a unique cloud-based, multi-tenant architecture.
References
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