Alkami Technology, Inc. (NASDAQ:ALKT – Get Rating) was the target of a sharp decline in short-selling rates in August. As of August 15, there were a total of 927,500 shares shorted, down 28.7% from the July 31 total of 1,300,000 shares. Based on an average daily trading volume of 295,300 shares, the days coverage ratio is now 3.1 days. About 2.7% of the company’s shares have been sold short.
Alkami Technology, Inc. (NASDAQ:ALKT – Get Rating) was the target of a sharp decline in short-selling rates in August. As of August 15, there were a total of 927,500 shares shorted, down 28.7% from the July 31 total of 1,300,000 shares. Based on an average daily trading volume of 295,300 shares, the days coverage ratio is now 3.1 days. About 2.7% of the company’s shares have been sold short. insider trading
In related news, insider Stephen Bohanon sold 24,232 shares of the company’s stock in a transaction on Monday, June 6th. The shares sold for an average of $13.81, and the total trading value he had was $334,643.92. After the transaction, the insider now directly owns his 382,567 shares in the company, worth his $5,283,250.27. The transaction was disclosed in SEC filings that can be accessed through the SEC’s website. In another news from Alkami Technology, CFO W Bryan Hill sold 2,889 shares in the company in a transaction on Thursday, June 2nd. The shares sold at an average price of $14.37, giving him a total of $41,514.93. After the transaction, the Chief Financial Officer now directly owns 195,685 shares in the company, valued at $2,811,993.45. The transaction was disclosed in SEC filings accessible via this hyperlink. Also, his insider, Stephen Bohanon, sold 24,232 shares of the company in a transaction on Monday, June 6th. The shares sold for an average of $13.81, and the total trading value he had was $334,643.92. Following the closing of the transaction, the insider now owns his 382,567 shares in the company, valued at his $5,283,250.27. Please see here for the disclosure of this sale. In the past 90 days, the insider has sold 34,607 shares of his company stock worth $480,733. His 40.00% of the shares are owned by insiders.
Institutional investors focus on Al-Kami’s technology
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Many institutional investors have recently changed positions in their businesses. D1 Capital Partners LP raised his stake in Alkami Technology by 10.5% in the fourth quarter. D1 Capital Partners LP now owns 5,828,511 shares of the company worth $116.92 million after he purchased an additional 553,511 shares last quarter. Vanguard Group Inc. increased his stake in Alkami Technology by 3.4% in the first quarter. Vanguard Group Inc. now owns 2,841,483 shares worth $40,662,000 after he purchased an additional 92,155 shares last quarter. Massachusetts Financial Services Co. MA increased its position in Alkami Technology by 2.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,351,035 shares worth $33,643,000 after purchasing an additional 64,472 shares during this period. Long Path Partners Fund LP purchased new shares of Alkami Technology in the first quarter for $25,297,000. Finally, FMR LLC boosted its position in Alkami Technology by 1.3% in the second quarter. FMR LLC now owns 1,094,969 shares of the company after purchasing an additional 13,677 shares during this period. Hedge funds and other institutional investors own 49.50% of the company’s shares.
Price-performance ratio of aluminum technology
NASDAQ:ALKT shares fell $0.52 during Friday’s trading to reach $14.73. The company’s trading volume was 256,257 shares, with an average trading volume of 334,150 shares. The company has a 50-day moving average of $14.15 and a 200-day moving average of $13.64. The stock has a market cap of $1.34 billion, a P/E ratio of -22.66 and a beta of 0.53. Alkami Technology has a 12-month low of $9.23 and a 12-month high of $32.50. The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt to equity ratio of 0.25.
Alkami Technology (NASDAQ:ALKT – Get Rating) last reported quarterly results on Wednesday, August 3rd. The company reported ($0.20) EPS for the quarter, missing ($0.01) analyst consensus estimates ($0.19). The company’s revenue for the quarter was $50.53 million, compared to consensus expectations of $47.98 million. Alkami Technology’s return on equity was 15.72% and net profit margin was 32.79%. During the same period last year, the company earned ($0.12) EPS. Equity research analysts forecast Al-Kami Technology’s earnings per share to be minus 0.74 this year.
Analyst sets new price target
Many research companies are affiliated with ALKT. Citigroup lowered its price target on his Alkami Technology stock from $32.00 to $18.00, setting a ‘Buy’ rating in its research notes on Tuesday, June 21. KeyCorp lowered its price target on Alkami Technology’s stock from $20.00 to $18.00 in his Thursday, July 7 research report, giving the stock an “overweight” rating. Needham & Company LLC raised its price target on Alkami Technology’s stock from $17.00 to $20.00, giving the company a Buy rating in its research report on Thursday, August 4. Finally, Barclays raised its price target on Alkami Technologies from $15.00 to $16.00 and gave the company an ‘equal weight’ rating in its research report on Thursday 4 August. One of his investment analysts issued a hold rating and four issued a buy rating. According to MarketBeat data, the company’s consensus rating is “moderate buy” with an average price target of $22.40.
Alkami Technology Company Profile
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Alkami Technology, Inc provides a cloud-based digital banking platform in the United States. The company’s platform supports a unique cloud-based, multi-tenant architecture that enables financial institutions to onboard and engage new users, accelerate revenue and improve operational efficiency.
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