Short Interest in Alkami Technology Surges 13.2% in June

As the month of June came to a close, Alkami Technology (NASDAQ: ALKT) saw a substantial increase in short interest. According to the latest data, short interest in the company grew by 13.2%, from 1,140,000 shares on June 15th to 1,290,000 shares by the end of the month. This represents a significant spike, with 2.4% of the company’s stock now being short sold.

[Short interest in Alkami Technology]

This sudden surge in short interest has raised eyebrows among analysts and investors alike. With an average daily trading volume of 470,300 shares, the short-interest ratio now stands at 2.7 days.

Wall Street Analyst Weigh In

Several prominent analysts have recently weighed in on Alkami Technology. Needham & Company LLC reiterated a “buy” rating, setting a price target of $32.00. JMP Securities maintained a “market outperform” rating, with a target price of $30.00. Meanwhile, Barclays upped their price objective from $28.00 to $31.00, giving the stock an “equal weight” rating.

[Analyst ratings for Alkami Technology]

Insiders Place Their Bets

In related news, several insiders have made significant moves in the company. Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock, worth a total of $40,931,041.13. Following the sale, the director now owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05.

[Insider sales of Alkami Technology stock]

Institutional Investors Weigh In On Alkami Technology

Several institutional investors have also recently modified their holdings of ALKT. NBC Securities Inc. acquired a new position in shares of Alkami Technology, valued at approximately $43,000. Perkins Coie Trust Co acquired a new stake in Alkami Technology, valued at $85,000. Quest Partners LLC bought a new position in shares of Alkami Technology, valued at about $113,000.

[Institutional investors in Alkami Technology]

Alkami Technology Trading Up 2.9%

Shares of NASDAQ: ALKT opened at $31.65 on Tuesday. The firm has a market capitalization of $3.09 billion, a P/E ratio of -52.75, and a beta of 0.47.

[Alkami Technology stock performance]