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

Alkami Technology, Inc. (NASDAQ:ALKT) shares reached a new 52-week low during mid-day trading 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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALKT. Zacks Research lowered shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Citizens Jmp reissued a “market outperform” rating and issued a $40.00 price objective on shares of Alkami Technology in a research report on Thursday, January 29th. Needham & Company LLC dropped their target price on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Barclays reduced their target price 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. Finally, JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alkami Technology currently has an average rating of “Moderate Buy” and an average target price of $36.00.

Alkami Technology Stock Down 12.3%

The company’s fifty day simple moving average is $21.83 and its 200-day simple moving average is $22.95. The firm has a market capitalization of $1.84 billion, a PE ratio of -40.77 and a beta of 0.53. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.17 and a quick ratio of 2.17.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of the firm’s stock in a transaction dated 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 approximately $4,510,415.34. This trade represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.10% of the stock is owned by corporate insiders.

Institutional Trading of Alkami Technology

A number of institutional investors have recently bought and sold shares of ALKT. Pictet Asset Management Holding SA grew its position in Alkami Technology by 21.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,322 shares of the company’s stock worth $307,000 after purchasing an additional 2,325 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Alkami Technology by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after acquiring an additional 456,275 shares during the period. Wealth Enhancement Trust Services Inc. acquired a new position in shares of Alkami Technology in the fourth quarter valued at about $1,068,000. Chicago Capital LLC raised its stake in shares of Alkami Technology by 25.5% in the fourth quarter. Chicago Capital LLC now owns 1,701,532 shares of the company’s stock worth $39,254,000 after purchasing an additional 346,245 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Alkami Technology by 97.6% during the fourth quarter. CWM LLC now owns 1,942 shares of the company’s stock worth $45,000 after purchasing an additional 959 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.