Short-term interest in Alkami Technology, Inc. (NASDAQ: ALKT) fell 8.2%

Alkami Technologies (NASDAQ: ALKT – Get Rating) saw a notable drop in short interest in October. Short interest totaled 1,350,000 shares as of Oct. 15, a decrease of 8.2% from 1,470,000 shares as of Sept. 30. About 3.9% of the company’s shares were sold short. Based on an average volume of 309,600 shares, the current short interest rate is 4.4 days.

Analyst Rating Changes

ALKT has been the subject of several recent research reports. Needham & Company LLC raised its price target on Alkami Technology stock to $20.00 from $17.00 and gave the stock a “buy” rating in a research note on Thursday, Aug. 4. Barclays raised its price target on Alkami Technology stock to $16.00 from $15.00 in a research note on Thursday, Aug. 4, with an “equal weight” rating on the stock. KeyCorp lowered its price target on Alkami Technology stock to $18.00 from $20.00 in a research note on Thursday, July 7, with an “overweight” rating on the company. Finally, Stephens began covering Alkami Technology stock in a report on Wednesday, Sept. 14. They have an “overweight” rating and $18.00 price target on the stock. One analyst has a hold rating on the stock and five analysts have a buy rating on the company. The stock currently has an average “Moderate Buy” rating and an average price target of $21.67, according to

Alkami Technology shares rose 2.4%

Shares of Alkami Technology opened at $15.58 on Friday. Alkami Technology’s 52-week low was $9.23 and its 52-week high was $32.50. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -23.97, and a beta of 0.16. The company’s 50-day simple moving average is $15.06 and its 200-day simple moving average is $13.85. The company’s gearing ratio is 0.25, its quick ratio is 6.97, and its current ratio is 6.97.

Alkami Technology (NASDAQ: ALKT – Get Rated) last released its earnings results on Wednesday, Aug. 3. The company reported earnings per share ($0.20) for the quarter, missing analysts’ consensus estimate ($0.19) ($0.01). The company’s revenue for the quarter was $50.53 million, compared with analysts’ expectations of $47.98 million. Alkami Technology’s net profit margin was negative 32.79% and ROE was negative 15.72%. In the same quarter of the previous year, the company reported earnings per share ($0.12). Research analysts are forecasting earnings per share of -0.73 for Alkami Technology for the current fiscal year.

Institutional inflows and outflows

Hedge funds and other institutional investors have overweight or underweight the stock recently. Point72 Hong Kong Ltd bought a new position in Alkami Technology for about $45,000 in the first quarter. During the first quarter, Amalgamated Bank purchased a new stake in Alkami Technology for about $65,000. Zurcher Kantonalbank Zurich Cantonalbank purchased new shares in Alkami Technology for about $78,000 in the second quarter. Legal & General Group Plc increased its stock position in Alkami Technology by 20.5% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the company’s stock valued at $118,000 after purchasing an additional 1,453 shares during the period. Finally, Credit Suisse raised its stock position in Alkami Technology by 7.0% in the second quarter. After purchasing an additional 818 shares during this period, Credit Suisse now owns 12,515 shares of the company, valued at $174,000. 52.74% of the stock is currently held by hedge funds and other institutional investors.

About Alkami Technology

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Alkami Technology, Inc provides a cloud-based digital banking platform in the United States. The company’s platform, backed by a proprietary, cloud-based, multi-tenant architecture, allows financial institutions to onboard and attract new users, accelerate revenue and improve operational efficiency.

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