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

Alkami Technology, Inc. (NASDAQ:ALKT) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $15.30 and last traded at $15.48, with a volume of 2472589 shares changing hands. The stock had previously closed at $17.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ALKT shares. Citizens Jmp reissued a “market outperform” rating and set a $40.00 target price on shares of Alkami Technology in a report on Thursday, January 29th. Barclays reduced their price objective on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, October 31st. Needham & Company LLC decreased their price objective on Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a report on Friday, October 31st. JPMorgan Chase & Co. cut their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Finally, Zacks Research lowered Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $32.29.

Alkami Technology Stock Performance

The company’s 50-day moving average price is $20.42 and its two-hundred day moving average price is $22.07. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -36.00 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.

Insiders Place Their Bets

In other news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology 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 transaction, the insider directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several large investors have recently added to or reduced their stakes in the business. Amundi increased its holdings in Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after purchasing an additional 548 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Alkami Technology by 32.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after buying an additional 594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alkami Technology by 19.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock valued at $947,000 after acquiring an additional 5,884 shares in the last quarter. Millennium Management LLC increased its stake in shares of Alkami Technology by 64.7% in the 1st quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock valued at $18,340,000 after acquiring an additional 274,439 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Alkami Technology by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock valued at $18,920,000 after acquiring an additional 71,949 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.