Alkami Technology (NASDAQ:ALKT) Hits New 12-Month Low – Here’s What Happened

Alkami Technology, Inc. (NASDAQ:ALKT)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.23 and last traded at $16.3380, with a volume of 472778 shares traded. The stock had previously closed at $16.86.

Analyst Ratings Changes

A number of research analysts have weighed in on ALKT shares. Zacks Research lowered Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC lowered their price target on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. The Goldman Sachs Group decreased their target price on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, Barclays lowered their target price on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Alkami Technology Price Performance

The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -37.84 and a beta of 0.53. 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 stock’s fifty day moving average price is $21.10 and its 200-day moving average price is $22.34.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 8,179 shares of the company’s 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 transaction, the insider owned 221,751 shares of the company’s stock, valued at $4,510,415.34. This represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALKT. CWM LLC boosted its position in shares of Alkami Technology by 176.2% during the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after purchasing an additional 601 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Alkami Technology by 398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after buying an additional 916 shares during the period. First Horizon Corp acquired a new stake in shares of Alkami Technology in the third quarter valued at $30,000. Assetmark Inc. acquired a new stake in shares of Alkami Technology in the second quarter valued at $44,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after buying an additional 692 shares during the period. Institutional investors and hedge funds 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.