Alkami Technology (NASDAQ:ALKT) Hits New 1-Year Low – Should You Sell?

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays reduced 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. JPMorgan Chase & Co. decreased their target price on shares of Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Needham & Company LLC lowered their price target on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Finally, Citizens Jmp restated a “market outperform” rating and set a $40.00 price objective on shares of Alkami Technology in a research report on Thursday, January 29th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alkami Technology currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Alkami Technology Price Performance

The company has a market capitalization of $1.67 billion, a P/E ratio of -37.09 and a beta of 0.53. The firm’s fifty day moving average is $21.31 and its 200 day moving average is $22.47. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17.

Insider Activity

In other news, insider Douglas A. Linebarger sold 8,179 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $166,360.86. Following the transaction, the insider owned 221,751 shares of the company’s stock, valued at approximately $4,510,415.34. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 18.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alkami Technology

Large investors have recently bought and sold shares of the business. CWM LLC grew 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 last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after purchasing an additional 916 shares during the last quarter. First Horizon Corp purchased a new position in Alkami Technology in the 3rd quarter worth about $30,000. Assetmark Inc. bought a new stake in Alkami Technology during the 2nd quarter valued at about $44,000. Finally, AlphaQuest LLC boosted its position in Alkami Technology by 54.5% in the 3rd 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 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.