Alkami Technology (NASDAQ:ALKT) Shares Gap Up to $26.14

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $26.14, but opened at $27.07. Alkami Technology shares last traded at $27.14, with a volume of 500 shares trading hands.

Several brokerages recently weighed in on ALKT. Zacks Investment Research raised Alkami Technology from a “sell” rating to a “hold” rating in a report on Tuesday, October 5th. Barclays decreased their price objective on Alkami Technology from $40.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Alkami Technology has an average rating of “Buy” and a consensus price target of $46.43.

The company has a quick ratio of 12.46, a current ratio of 12.46 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $27.48.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, August 4th. The company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.04). The business had revenue of $36.70 million during the quarter, compared to analyst estimates of $34.44 million. Analysts predict that Alkami Technology, Inc. will post -0.48 earnings per share for the current year.

In other news, CEO Michael D. Hansen sold 100,000 shares of Alkami Technology stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $30.56, for a total transaction of $3,056,000.00. Following the completion of the sale, the chief executive officer now owns 150,000 shares in the company, valued at approximately $4,584,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Bohanon sold 22,500 shares of Alkami Technology stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $30.47, for a total value of $685,575.00. The disclosure for this sale can be found here. Insiders have sold a total of 204,571 shares of company stock valued at $6,140,581 in the last ninety days.

Institutional investors and hedge funds have recently modified their holdings of the company. Bullseye Asset Management LLC bought a new stake in shares of Alkami Technology during the 2nd quarter valued at about $79,000. Bamco Inc. NY bought a new stake in Alkami Technology in the 2nd quarter worth approximately $23,281,000. Allworth Financial LP bought a new stake in Alkami Technology in the 2nd quarter worth approximately $54,000. Citigroup Inc. bought a new stake in Alkami Technology in the 2nd quarter worth approximately $636,000. Finally, Alliancebernstein L.P. bought a new stake in Alkami Technology in the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 40.06% of the company’s stock.

About Alkami Technology (NASDAQ:ALKT)

Alkami Technology, Inc offers a cloud-based digital banking platform to serve banks and credit unions in the United States. The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.

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