Short Interest in Alkami Technology, Inc. (NASDAQ:ALKT) Rises By 37.8%

Alkami Technology, Inc. (NASDAQ:ALKT) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,140,000 shares, an increase of 37.8% from the May 31st total of 827,500 shares. Based on an average daily volume of 419,900 shares, the short-interest ratio is presently 2.7 days. Currently, 2.1% of the shares of the company are sold short.

Insider Activity

In related news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the sale, the chief financial officer now owns 505,877 shares of the company’s stock, valued at approximately $14,569,257.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the sale, the chief financial officer now owns 505,877 shares of the company’s stock, valued at approximately $14,569,257.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the sale, the director now directly owns 17,186,985 shares in the company, valued at approximately $455,970,712.05. The disclosure for this sale can be found here. Insiders have sold a total of 1,848,472 shares of company stock valued at $49,241,550 over the last quarter. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Large investors have recently added to or reduced their stakes in the company. Jump Financial LLC grew its holdings in Alkami Technology by 138.3% in the 4th quarter. Jump Financial LLC now owns 55,767 shares of the company’s stock worth $1,352,000 after acquiring an additional 32,367 shares during the last quarter. Trexquant Investment LP bought a new stake in Alkami Technology in the 4th quarter worth $1,094,000. SG Americas Securities LLC boosted its stake in shares of Alkami Technology by 1,283.9% during the 4th quarter. SG Americas Securities LLC now owns 83,727 shares of the company’s stock valued at $2,030,000 after purchasing an additional 77,677 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Alkami Technology during the 3rd quarter valued at about $214,000. Finally, Quest Partners LLC bought a new stake in shares of Alkami Technology during the 4th quarter valued at about $113,000. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Price Performance

ALKT stock opened at $28.48 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92. Alkami Technology has a 52 week low of $14.93 and a 52 week high of $29.28. The firm’s fifty day moving average is $26.45 and its 200 day moving average is $25.06. The firm has a market cap of $2.78 billion, a P/E ratio of -47.47 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The company’s revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.16) EPS. Research analysts predict that Alkami Technology will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Alkami Technology in a research report on Monday, April 15th. Craig Hallum raised their price objective on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Alkami Technology in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

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.