Short Interest in Alkami Technology, Inc. (NASDAQ:ALKT) Rises By 37.2%

Alkami Technology, Inc. (NASDAQ:ALKT) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,150,000 shares, an increase of 37.2% from the November 30th total of 838,400 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 820,300 shares, the days-to-cover ratio is currently 1.4 days.

Alkami Technology Price Performance

NASDAQ ALKT traded down $1.37 on Friday, reaching $38.53. 629,136 shares of the company’s stock traded hands, compared to its average volume of 544,830. The stock has a market cap of $3.87 billion, a PE ratio of -81.98 and a beta of 0.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology has a 12 month low of $22.62 and a 12 month high of $42.29. The stock has a 50-day simple moving average of $38.60 and a 200 day simple moving average of $33.71.

Wall Street Analyst Weigh In

ALKT has been the subject of several analyst reports. JMP Securities raised their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Barclays upped their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum raised their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.88.

Insider Buying and Selling at Alkami Technology

In other news, Director Atlantic L.P. General sold 2,500,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $37.50, for a total value of $93,750,000.00. Following the sale, the director now owns 13,055,049 shares of the company’s stock, valued at $489,564,337.50. The trade was a 16.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the completion of the transaction, the director now directly owns 12,680,049 shares of the company’s stock, valued at approximately $475,501,837.50. This trade represents a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,417,380 shares of company stock worth $248,273,935 over the last ninety days. 38.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alkami Technology

A number of large investors have recently added to or reduced their stakes in the business. Park Place Capital Corp bought a new position in shares of Alkami Technology during the third quarter valued at about $28,000. Advisors Asset Management Inc. grew its position in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after acquiring an additional 631 shares during the last quarter. Blue Trust Inc. increased its stake in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares during the period. Point72 Asset Management L.P. bought a new stake in Alkami Technology in the second quarter valued at approximately $40,000. Finally, Covestor Ltd boosted its stake in shares of Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after purchasing an additional 2,646 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.