Bakkt Holdings Inc. (NYSE:BKKT) traded with a subtraction of -$0.1 to $2.20 on Thursday, a downside of -4.13 percent. An average of 1,314,270 shares of common stock have been traded in the last five days. There was a fall of -$0.50 in the past week, and it reached a new high 7 times over the past 12 months. The last 20 days have seen an average of 1,385,458 shares traded, while the 50-day average volume stands at 2,172,953.
BKKT stock has decreased by -9.09% in the last month. The company shares reached their 1-month lowest point of $2.20 on 09/22/22. With the stock rallying to its 52-week high on 02/16/22, shares of the company touched a low of $1.98 and a high of $50.80 in 52 weeks. It has reached a new high 2 times so far this year and lost -72.97% or -$6.31 in price. In spite of this, the price is down -95.66% from the 52-week high.
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126 days have passed since Bakkt Holdings Inc. (BKKT) last reported insider trading activity. VPC Impact Acquisition Holding, who is Director, most recently acquired $16,000 shares at $2.73 per share on May 19. In this transaction, the insider spent $43,680. Director, VPC Impact Acquisition Holding, disposed of 14,115 shares at a price of $10.14 on Dec 23. The insider now owns more than $143,126 worth of shares. Prior to that, Director VPC Impact Acquisition Holding went on to Sale 113,996 shares at $9.81 each on Dec 16. An amount of $1,117,971 was transacted.
Bakkt Holdings Inc. (BKKT) has a trailing price-to-sales (P/S) ratio at 9.92, the price-to-book (PB) ratio at 0.27.
The quick ratio of Bakkt Holdings Inc. for the three months ended June 29 was 2.40, and the current ratio was 2.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $254.04 million compared to revenue of $39.44 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Bakkt Holdings Inc.’s return on assets was -9.70%.
For the three-month period that ended June 29, Bakkt Holdings Inc. had $188.75 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$3.9 million in the quarter, while revenues of -$7.13 million were grew 645.38%. The analyst consensus anticipated Bakkt Holdings Inc.’s latest quarter earnings to come in at -$0.16 per share, but it turned out to be -$0.05, a 68.80% surprise. For the quarter, EBITDA amounted to -$37.45 million. Shareholders own equity worth $263.78 million.
From a technical analysis perspective, let’s take a brief look at Bakkt Holdings Inc. (BKKT) price momentum. RSI 9-day as of the close on 21 September was 26.14%, suggesting the stock is oversold, with historical volatility in this time frame at 44.74%.
As of today, BKKT’s price is $2.36 -18.33% or -$0.50 from its 5-day moving average. BKKT is currently trading -17.42% lower than its 20-day SMA and -42.28% lower than its 100-day SMA. However, the stock’s current price level is -7.74% below the SMA50 and -82.46% below the SMA200.
The stochastic %K and %D were 1.98% and 3.38%, respectively, and the average true range (ATR) was 0.20. With the 14-day stochastic at 0.48% and the average true range at 0.21, the RSI (14) stands at 33.16%. The stock has reached -0.26 on the 9-day MACD Oscillator while the 14-day reading was at -0.31.
Citigroup launched coverage on Bakkt Holdings Inc. (NYSE: BKKT) in its analyst report released on July 19, 2022. The firm assigned the stock a Neutral rating. The consensus rating for Bakkt Holdings Inc. (BKKT) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BKKT, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is BKKT’s price target for the next 12 months?
Analysts predict a range of price targets between $3.00 and $3.25, with a median target of $3.13. Taking a look at these predictions, the average price target given by analysts for Bakkt Holdings Inc. (BKKT) stock is $3.13.