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

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

Alkami Technology Stock Performance

ALKT traded up $0.54 during trading on Thursday, reaching $26.76. The company's stock had a trading volume of 368,778 shares, compared to its average volume of 1,140,881. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -56.93 and a beta of 0.56. The company's fifty day moving average price is $26.71 and its 200-day moving average price is $33.37. Alkami Technology has a 52-week low of $21.70 and a 52-week high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). The business had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. On average, equities analysts forecast that Alkami Technology will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the sale, the chief financial officer now owns 450,620 shares in the company, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.10% of the company's stock.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently modified their holdings of ALKT. Vanguard Group Inc. boosted its position in shares of Alkami Technology by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock worth $273,187,000 after buying an additional 843,129 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Alkami Technology by 5,747.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after purchasing an additional 2,661,027 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of Alkami Technology during the 4th quarter worth approximately $78,878,000. Driehaus Capital Management LLC raised its position in shares of Alkami Technology by 16.7% during the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock worth $76,787,000 after purchasing an additional 299,728 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Alkami Technology by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock valued at $66,457,000 after buying an additional 6,970 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group reduced their price objective on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Barclays decreased their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective on the stock in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Alkami Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.38.

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.