The stock of Bakkt Holdings Inc. (NYSE:BKKT) increased by $0.11 on Tuesday to at $1.44, up 8.38 percent. The last five days have seen an average of 502,887 shares of common stock traded. 6 times new highs were reached in the current year, with a gain of $0.2700. The average number of shares traded over the last 20 days was 828,447, while the average volume over the last 50 days totaled 2,092,651.
BKKT stock dropped -12.64% since last month. On 08/18/23, the company’s shares reached a one-month low of $1.2300. The stock touched a high of $3.24 on 01/12/23, after rallying from a low of $1.08 in 52 weeks. The price of BKKT stock has risen by 21.13% or $0.2700 this year, reaching a new high 6 times. Still, the stock price is down -55.51% from the 52-week high.
Insider Transactions
BKKT stock investors should be aware that Bakkt Holdings Inc. (BKKT) stock had its last reported insider trading activity 41 days ago on Jul 19. On Jul 19, Director VPC Impact Acquisition Holding sold 600 shares at $1.85 each. This transaction resulted in the insider making $1,110. On Jul 17, VPC Impact Acquisition Holding sold 40,585 shares at a price of US$1.87. After the transaction, the insider now owns 4,603,669 shares. Director VPC Impact Acquisition Holding had earlier sold 400,000 shares on Jul 14 for $2.07 a share. The transaction was completed for $828,000.
Valuation Metrics
Beta for the stock is 4.24. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 6.98, the price-to-book (PB) ratio of 1.32.
Financial Health
For the three months ended June 29, Bakkt Holdings Inc.’s quick ratio was 3.30, while its current ratio was 3.30, indicating its ability to pay off its debt. Based on annual data, it had gross profit of $2.07 billion and revenue of $54.57 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BKKT’s return on assets (ROA) during the last 12 months has been -54.50%. In the meantime, the return on equity (ROE) for the last 12 months was -236.00%.
Earnings Surprise
According to Bakkt Holdings Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Bakkt Holdings Inc.’s quarterly earnings would be -$0.19, but it ended up being -$0.2, beating the consensus by 5.00%. EBITDA was -$47.27 million for the quarter. At the end of Bakkt Holdings Inc.’s most recent quarter ended June 29, its liabilities totaled 763.87 million, while its total debt was $28.86 million. Equity owned by shareholders amounts to $274.6 million.
Technical Picture
Here’s a quick look at Bakkt Holdings Inc.’s (BKKT) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 59.45%, suggesting the stock is Neutral, with a 69.89% historical volatility rate.
The stochastic %K and %D were 51.72% and 34.48% respectively, while the average true range (ATR) was 0.0952. Based on the 14-day stochastic reading of 88.50%, the RSI (14) reading is 53.59%. On the 9-day MACD Oscillator, the stock is at 0.0489, and the 14-day reading is at 0.0317.
Analyst Ratings
In its analyst report released on September 29, 2022, Wells Fargo began covering Bakkt Holdings Inc. (NYSE: BKKT). The stock was rated as an Equal weight by the brokerage firm. Analysts have assigned Bakkt Holdings Inc. (BKKT) an Overweight rating. BKKT is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is BKKT’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.50 and $2.10, with a median target price of $1.80. In analyzing these forecasts, the average price target given by analysts for Bakkt Holdings Inc. (BKKT) is $1.80.
