Bakkt Holdings Inc (NYSE:BKKT) saw a downside of -5.17% to close Friday at $1.10 after subtracting -$0.06 on the day. The 5-day average trading volume is 864,220 shares of the company’s common stock. It has gained $1.2700 in the past week and touched a new high 1 time within the past 5 days. An average of 769,300 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,363,862.
BKKT’s 1-month performance is -18.52% or -$0.1700 on its low of $1.1000 reached on 09/22/23. The company’s shares have touched a 52-week low of $1.08 and high of $2.87, with the stock’s rally to the 52-week high happening on 01/12/23. YTD, BKKT has lost -7.56% or -$0.0900 and has reached a new high 6 times. However, the current price is down -61.67% from the 52-week high price.
Insider Transactions
BKKT stock investors last saw insider trading activity on Jul 19.VPC Impact Acquisition Holding (Director) most recently sold 600 shares at $1.85 per share on Jul 19. This transaction cost the insider $1,110. Director, VPC Impact Acquisition Holding, sold 40,585 shares at a price of $1.87 on Jul 17. Then, on Jul 14, Director VPC Impact Acquisition Holding sold 400,000 shares at a price of $2.07 per share. This transaction amounted to $828,000.
Valuation Metrics
BKKT stock has a beta of 4.24. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.26 while the price-to-book (PB) in the most recent quarter is 1.20.
Bakkt Holdings Inc’s quick ratio for the period ended June 30 was 1.15, with the current ratio over the same period at 1.15. As well, the company’s long term debt to equity for the quarter ending June 30 was 0.30, while the total debt to equity was 0.52. In terms of profitability, the gross margin trailing 12 months is 1.74%. The trailing 12-month EBITDA margin is -273.59% while for the period ending June 30, Bakkt Holdings Inc’s operating margin was -41.18%. The firm’s gross profit as reported stood at $2.07 billion against revenue of $54.57 million.
Earnings Surprise
For the quarterly period ending June 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected BKKT to announce -$0.2 per share in earnings in its latest quarter, but it posted -$0.19, representing a 5.00% surprise. EBITDA for the quarter stood at more than -$47.27 million. BKKT stock balance sheet for the quarter ending June 30 shows that total liabilities totaled 763.87 million, with total debt at $28.86 million. Shareholders hold equity totaling $274.6 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 22 September was 21.49% to suggest the stock is trending oversold, with historical volatility in this time period at 25.89%.
The stock’s 5-day moving average is $1.1720, reflecting a -9.84% or -$0.1200 change from its current price. BKKT is currently trading -13.39% above its 20-day SMA, -16.03% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -43.01% and SMA200 by-36.42%.
Stochastic %K and %D was 9.15% and 9.46% and the average true range (ATR) pointed at 0.0749. The RSI (14) points at 30.30%, while the 14-day stochastic is at 0.00% with the period’s ATR at 0.0822. The stock’s 9-day MACD Oscillator is pointing at -0.0522 and -0.0824 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 1 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 $1.50 and a high of $2.10, with their median price target at $1.80. Looking at these predictions, the average price target given by analysts is for Bakkt Holdings Inc (BKKT) stock is $1.80.
