Is Bakkt Holdings Inc. (BKKT) Good For Your Portfolio?

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Bakkt Holdings Inc. (NYSE:BKKT) saw a downside of -5.22% to $1.27 after subtracting -$0.07 on Wednesday. The 5-day average trading volume is 1,728,257 shares of the company’s common stock. It has gained $1.5500 in the past week and touched a new high 2 times within the past 5 days. An average of 1,364,279 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,495,028.

BKKT’s 1-month performance is -21.64% or -$0.3650 on its low of $1.2300 reached on 12/23/22. The company’s shares have touched a 52-week low of $1.23 and high of $9.85, with the stock’s rally to the 52-week high happening on 02/16/22. YTD, BKKT has lost -84.25% or -$7.2450 and has reached a new high 2 times. However, the current price is down -87.11% from the 52-week high price.


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Insider Transactions

BKKT stock investors last saw insider trading activity on Dec 01.VPC Impact Acquisition Holding (Director) most recently sold 69,640 shares at $1.78 per share on Dec 01. This transaction cost the insider $124,238. Director, VPC Impact Acquisition Holding, sold 170,000 shares at a price of $1.94 on Nov 17. Then, on Oct 26, Director VPC Impact Acquisition Holding sold 7,500 shares at a price of $2.33 per share. This transaction amounted to $17,482.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.20 while the price-to-book (PB) in the most recent quarter is 0.55.

Bakkt Holdings Inc.’s quick ratio for the period ended September 29 was 2.50, with the current ratio over the same period at 2.50. The firm’s gross profit as reported stood at $254.04 million against revenue of $39.44 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Bakkt Holdings Inc.’s cash and short-term investments amounted to $113.87 million against total debt of $26.54 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 99.9% to -$468.13 million, while revenue of -$3.9 million was 99.17% off the previous quarter. Analysts expected BKKT to announce -$0.12 per share in earnings in its latest quarter, but it posted -$6.11, representing a -4,991.70% surprise. EBITDA for the quarter stood at more than -$40.8 million. BKKT stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 219.72 million, with total debt at $26.54 million. Shareholders hold equity totaling $264.04 million.

Let’s look briefly at Bakkt Holdings Inc. (BKKT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 27 December was 32.61% to suggest the stock is trending Neutral, with historical volatility in this time period at 126.15%.

The stock’s 5-day moving average is $1.3490, reflecting a -4.89% or -$0.0650 change from its current price. BKKT is currently trading -25.15% above its 20-day SMA, -59.84% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -42.24% and SMA200 by-72.44%.

Stochastic %K and %D was 13.99% and 18.22% and the average true range (ATR) pointed at 0.1446. The RSI (14) points at 34.13%, while the 14-day stochastic is at 6.25% with the period’s ATR at 0.1431. The stock’s 9-day MACD Oscillator is pointing at -0.0722 and -0.1627 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Bakkt Holdings Inc. (NYSE: BKKT), Wells Fargo launched coverage with an Equal weight rating. Analysts offering their rating for BKKT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate BKKT as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.

What is BKKT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $2.20 and a high of $2.50, with their median price target at $2.25. Looking at these predictions, the average price target given by analysts is for Bakkt Holdings Inc. (BKKT) stock is $2.32.

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