Alkami Technology (NASDAQ:ALKT) Shares Up 7% – Should You Buy?

Alkami Technology, Inc. (NASDAQ:ALKT) rose 7% during mid-day trading on Friday . The stock traded as high as $16.59 and last traded at $16.7210. Approximately 1,080,659 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 2,043,048 shares. The stock had previously closed at $15.63.

Analyst Ratings Changes

A number of research firms recently weighed in on ALKT. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. The Goldman Sachs Group decreased their target price on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Needham & Company LLC reduced their price objective on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Barclays decreased their price objective on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.57.

Alkami Technology Trading Up 5.9%

The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08. The business has a 50 day moving average price of $20.04 and a 200-day moving average price of $21.95. The firm has a market capitalization of $1.74 billion, a PE ratio of -36.00 and a beta of 0.53.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider directly owned 221,751 shares in the company, valued at approximately $4,510,415.34. The trade was a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its stake in shares of Alkami Technology by 54.5% during the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock worth $38,000 after acquiring an additional 544 shares in the last quarter. Amundi boosted its position in Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after purchasing an additional 548 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after purchasing an additional 594 shares in the last quarter. CWM LLC grew its holdings in Alkami Technology by 176.2% in the second quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after purchasing an additional 601 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Alkami Technology by 0.8% in the third quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock valued at $2,113,000 after buying an additional 691 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.