Alkami Technology, Inc. (NASDAQ:ALKT – Get Rating) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 992,600 shares, a decline of 33.8% from the March 15th total of 1,500,000 shares. Based on an average daily trading volume, of 344,800 shares, the days-to-cover ratio is currently 2.9 days. Approximately 3.0% of the shares of the company are short sold.
Shares of Alkami Technology stock opened at $12.01 on Friday. The firm has a market capitalization of $1.08 billion and a price-to-earnings ratio of -4.94. Alkami Technology has a fifty-two week low of $11.84 and a fifty-two week high of $48.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 10.40 and a current ratio of 10.40. The stock has a 50 day moving average of $14.34 and a 200 day moving average of $19.69.
Alkami Technology (NASDAQ:ALKT – Get Rating) last issued its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $42.44 million during the quarter, compared to analysts’ expectations of $41.00 million. Alkami Technology had a negative return on equity of 19.88% and a negative net margin of 30.77%. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. Analysts forecast that Alkami Technology will post -0.48 EPS for the current year.
Several equity analysts have recently issued reports on the company. Zacks Investment Research cut Alkami Technology from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 2nd. Barclays reduced their price target on Alkami Technology from $33.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, January 19th. Needham & Company LLC reduced their price target on Alkami Technology from $40.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 24th. Finally, KeyCorp reduced their price target on Alkami Technology from $35.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, January 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $36.63.
A number of institutional investors have recently modified their holdings of the stock. First International Bank & Trust purchased a new position in Alkami Technology in the fourth quarter worth approximately $2,437,000. BlackRock Inc. lifted its stake in Alkami Technology by 100.8% during the fourth quarter. BlackRock Inc. now owns 1,888,443 shares of the company’s stock worth $37,882,000 after purchasing an additional 947,999 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Alkami Technology by 240.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 120,751 shares of the company’s stock worth $2,422,000 after purchasing an additional 85,307 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Alkami Technology during the fourth quarter worth $268,000. Finally, Deutsche Bank AG lifted its stake in Alkami Technology by 95.2% during the fourth quarter. Deutsche Bank AG now owns 18,152 shares of the company’s stock worth $364,000 after purchasing an additional 8,855 shares in the last quarter. Institutional investors own 45.18% of the company’s stock.
Alkami Technology Company Profile (Get Rating)
Alkami Technology, Inc offers a cloud-based digital banking platform in the United States. The company’s platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.
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