Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Up 26.1% in December

Alkami Technology, Inc. (NASDAQ:ALKT) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,450,000 shares, a growth of 26.1% from the December 15th total of 1,150,000 shares. Based on an average daily trading volume, of 849,500 shares, the short-interest ratio is presently 1.7 days. Currently, 2.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ALKT shares. Needham & Company LLC boosted their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Craig Hallum raised their price target on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays boosted their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, JMP Securities raised their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Alkami Technology Price Performance

ALKT opened at $35.52 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The stock’s 50 day moving average price is $37.90 and its 200-day moving average price is $34.62. Alkami Technology has a 52-week low of $22.65 and a 52-week high of $42.29.

Insider Activity at Alkami Technology

In other news, insider Stephen Bohanon sold 15,491 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.37, for a total transaction of $594,389.67. Following the sale, the insider now owns 358,204 shares in the company, valued at approximately $13,744,287.48. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 5,239 shares of Alkami Technology stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.02, for a total value of $199,186.78. Following the sale, the insider now directly owns 248,585 shares of the company’s stock, valued at approximately $9,451,201.70. This trade represents a 2.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,517,380 shares of company stock worth $251,616,935. Corporate insiders own 25.90% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Driehaus Capital Management LLC grew its holdings in shares of Alkami Technology by 56.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after acquiring an additional 392,483 shares during the period. JPMorgan Chase & Co. grew its stake in Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock worth $11,971,000 after purchasing an additional 313,478 shares during the period. Millennium Management LLC boosted its holdings in shares of Alkami Technology by 124.1% during the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after buying an additional 284,977 shares in the last quarter. Castleark Management LLC bought a new position in shares of Alkami Technology in the 3rd quarter worth about $6,050,000. Finally, Loomis Sayles & Co. L P purchased a new position in Alkami Technology during the 3rd quarter valued at about $6,032,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

About Alkami Technology

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.