Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,110,000 shares, a growth of 7.8% from the September 15th total of 1,030,000 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 530,800 shares, the short-interest ratio is currently 2.1 days.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on ALKT shares. Craig Hallum upped their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities upped their price objective on Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. Barclays increased their price objective on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Lake Street Capital boosted their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC raised their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.89.
View Our Latest Report on ALKT
Insider Buying and Selling at Alkami Technology
Hedge Funds Weigh In On Alkami Technology
Hedge funds and other institutional investors have recently bought and sold shares of the business. Park Place Capital Corp bought a new stake in Alkami Technology in the third quarter valued at approximately $28,000. Point72 Asset Management L.P. bought a new stake in Alkami Technology in the 2nd quarter valued at $40,000. NBC Securities Inc. lifted its holdings in Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after purchasing an additional 1,102 shares during the last quarter. Perkins Coie Trust Co bought a new position in Alkami Technology during the second quarter worth $85,000. Finally, nVerses Capital LLC acquired a new position in shares of Alkami Technology in the second quarter valued at $88,000. Institutional investors own 54.97% of the company’s stock.
Alkami Technology Trading Up 2.7 %
Shares of Alkami Technology stock opened at $34.83 on Friday. Alkami Technology has a 12-month low of $17.28 and a 12-month high of $36.00. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $31.78 and its 200-day moving average is $29.11. The stock has a market cap of $3.40 billion, a P/E ratio of -58.05 and a beta of 0.46.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The firm had revenue of $82.16 million for the quarter, compared to analyst estimates of $81.32 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities research analysts predict that Alkami Technology will post -0.36 earnings per share for the current fiscal year.
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.
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