Bakkt Holdings Inc. (BKKT): Keep paying attention to its insider activity

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Bakkt Holdings Inc. (NYSE:BKKT) saw a downside of -8.33% to close Tuesday at $1.76 after subtracting -$0.16 on the day. The 5-day average trading volume is 4,103,320 shares of the company’s common stock. It has gained $2.0600 in the past week and touched a new high 3 times within the past 5 days. An average of 4,422,970 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,583,534.

BKKT’s 1-month performance is 35.38% or $0.4400 on its low of $1.1300 reached on 01/03/23. The company’s shares have touched a 52-week low of $1.13 and high of $9.01, with the stock’s rally to the 52-week high happening on 01/12/23. YTD, BKKT has achieved 47.90% or $0.5700 and has reached a new high 6 times. However, the current price is down -80.47% from the 52-week high price.

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Insider Transactions

BKKT stock investors last saw insider trading activity on Jan 13.VPC Impact Acquisition Holding (Director) most recently sold 100,000 shares at $2.06 per share on Jan 13. This transaction cost the insider $206,100. Chief Financial Officer, Alexander Karen, sold 11,487 shares at a price of $1.35 on Dec 23. Then, on Dec 01, Director VPC Impact Acquisition Holding sold 69,640 shares at a price of $1.78 per share. This transaction amounted to $124,238.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.99 while the price-to-book (PB) in the most recent quarter is 0.73.

Bakkt Holdings Inc.’s quick ratio for the period ended June 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 June 29 this year, Bakkt Holdings Inc.’s cash and short-term investments amounted to $113.87 million against total debt of $22.88 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 -$0.16 per share in earnings in its latest quarter, but it posted -$0.05, representing a 68.80% surprise. EBITDA for the quarter stood at more than -$40.8 million. BKKT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 219.72 million, with total debt at $22.88 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 24 January was 50.29% to suggest the stock is trending Neutral, with historical volatility in this time period at 395.90%.

The stock’s 5-day moving average is $1.9020, reflecting a -12.00% or -$0.2400 change from its current price. BKKT is currently trading +15.79% above its 20-day SMA, -30.71% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +1.73% and SMA200 by-66.73%.

Stochastic %K and %D was 43.75% and 46.45% and the average true range (ATR) pointed at 0.2920. The RSI (14) points at 51.38%, while the 14-day stochastic is at 35.84% with the period’s ATR at 0.2630. The stock’s 9-day MACD Oscillator is pointing at -0.0811 and 0.1469 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.

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