Alkami Technology (NASDAQ:ALKT) Sets New 52-Week Low – Should You Sell?

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

Wall Street Analyst Weigh In

ALKT has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. Citizens Jmp reaffirmed a “market outperform” rating and set a $40.00 target price on shares of Alkami Technology in a research note on Thursday, January 29th. The Goldman Sachs Group decreased their price target 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. Needham & Company LLC cut their price objective on Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Alkami Technology Trading Down 12.3%

The stock has a market cap of $1.84 billion, a P/E ratio of -40.77 and a beta of 0.53. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17. The stock’s fifty day moving average is $21.83 and its 200 day moving average is $22.95.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 8,179 shares of the business’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. The trade was a 3.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently made changes to their positions in ALKT. CWM LLC boosted its stake 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. First Horizon Corp bought a new stake in Alkami Technology in the third quarter worth about $30,000. 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 valued at $35,000 after buying an additional 916 shares during the period. AlphaQuest LLC grew its stake 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. Finally, Assetmark Inc. purchased a new stake in shares of Alkami Technology in the second quarter worth approximately $44,000. 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.