Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) has seen a significant increase in short interest in the month of June. As of June 15, short interest totaled 1,140,000 shares, up 37.8% from a total of 827,500 shares on May 31. Based on the average daily trading volume of 419,900 shares, the short interest ratio is currently at 2.7 days. Currently, 2.1% of the company’s shares are sold short.
Insider Activities
In related news, CFO W Brian 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 value of $2,880,000.00. Following the sale, the CFO 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 and Exchange Commission, which can be accessed through this hyperlink. In related news, CFO W Brian 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 value of $2,880,000.00. Following the sale, the CFO 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 and Exchange Commission, which can be accessed through this hyperlink. Additionally, the director of Atlantic Genper (Bellum General) sold 1,542,821 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The disclosure for this sale can be found here. Insiders sold 1,848,472 shares of the company’s stock in the last quarter, valued at $49,241,550.Company insiders own 38.00% of the company’s stock.
Institutional Investors Spotlight on Alkami Technology
Large investors have recently increased or decreased their investments in the company. Jump Financial LLC increased its holdings in Alkami Technology by 138.3% in the fourth quarter. Jump Financial LLC now holds 55,767 shares of the company’s stock, valued at $1,352,000, after acquiring an additional 32,367 shares in the last quarter. Trexquant Investment LP acquired a new stake in Alkami Technology in the fourth quarter, valued at $1,094,000. SG Americas Securities LLC increased its holdings in Alkami Technology by 1,283.9% in the fourth quarter. SG Americas Securities LLC now holds 83,727 shares of the company’s stock, valued at $2,030,000, after acquiring an additional 77,677 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Alkami Technology during the third quarter valued at approximately $214,000. Finally, Quest Partners LLC bought a new stake in Alkami Technology during the fourth quarter worth approximately $113,000. Institutional investors now own 54.97% of the company’s shares.
Alkami Technology’s price performance
ALKT shares opened trading 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’s 52-week low is $14.93 and its 52-week high is $29.28. The company’s 50-day moving average is $26.45 and its 200-day moving average is $25.06. The company 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 – get free report ) announced its quarterly earnings on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company’s revenue for the quarter was $76.10 million, beating analysts’ estimates of $75.57 million. Alkami Technology had a net margin of -20.42% and a return on equity of -15.31%. The company’s revenue grew 26.8% year-over-year. EPS for the same quarter last year was ($0.16). Research analysts expect Alkami Technology to post earnings per share of -$0.38 this year.
Analyst upgrades and downgrades
Several analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research report on Monday, April 15th. Craig Hallum increased their price target 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 reaffirmed a “buy” rating and set a $32.00 price target 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. According to MarketBeat.com, the company’s current consensus rating is a “moderate buy” with an average price target of $27.56.
Read the latest report on ALKT
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.
read more
Receive Alkami Technology Daily news and reviews –Enter your email address below to receive a concise summary of the latest news and analyst ratings on Alkami Technology and related companies every day via MarketBeat.com’s free email newsletter.
