Alkami Technology (NASDAQ:ALKT) Hits New 12-Month Low – Should You Sell?

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) hit a new 52-week low on Tuesday . The company traded as low as $18.27 and last traded at $17.9660, with a volume of 988344 shares changing hands. The stock had previously closed at $19.98.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their price target on shares of Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Barclays lowered their price target on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. The Goldman Sachs Group cut their price objective on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Needham & Company LLC lowered their target price on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.00.

Alkami Technology Stock Down 5.6%

The firm’s 50 day moving average is $21.60 and its 200-day moving average is $22.80. The firm has a market cap of $1.77 billion, a PE ratio of -39.16 and a beta of 0.53. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08.

Insider Activity

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

Institutional Trading of Alkami Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in Alkami Technology by 27.6% during the 2nd quarter. Blue Trust Inc. now owns 1,852 shares of the company’s stock valued at $56,000 after purchasing an additional 401 shares during the period. AlphaQuest LLC raised its holdings in shares of Alkami Technology by 54.5% during the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after buying an additional 544 shares during the last quarter. Amundi boosted its position in shares of Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after buying an additional 548 shares during the period. Advisors Asset Management Inc. grew its holdings in Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after buying an additional 594 shares in the last quarter. Finally, CWM LLC increased its position in Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after acquiring an additional 601 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

About Alkami Technology

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.