Bakkt Holdings Inc (NYSE: BKKT)’s stock price has dropped by -32.63 in relation to previous closing price of 9.96. Nevertheless, the company has seen a loss of -33.02% in its stock price over the last five trading days. Business Wire reported 2024-04-30 that ALPHARETTA, Ga.–(BUSINESS WIRE)–Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it will release its first quarter 2024 earnings on Tuesday, May 14, 2024, before market open. Management will host a conference call at 9:00 a.m. ET on the same day to review the results and answer questions. Attendance information is provided below. Investors and analysts interested in participating in the earnings conference call are invited to dial (833) 470-1428 or (404) 975-4839, and reference particip.
Is It Worth Investing in Bakkt Holdings Inc (NYSE: BKKT) Right Now?
The stock has a 36-month beta value of 3.97. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
On May 01, 2024, the average trading volume of BKKT was 247.08K shares.
BKKT’s Market Performance
BKKT stock saw a decrease of -33.02% in the past week, with a monthly decline of -42.22% and a quarterly a decrease of -82.34%. The volatility ratio for the week is 22.02%, and the volatility levels for the last 30 days are 13.33% for Bakkt Holdings Inc (BKKT). The simple moving average for the past 20 days is -38.98% for BKKT’s stock, with a -77.56% simple moving average for the past 200 days.
Analysts’ Opinion of BKKT
Many brokerage firms have already submitted their reports for BKKT stocks, with Wells Fargo repeating the rating for BKKT by listing it as a “Equal Weight.” The predicted price for BKKT in the upcoming period, according to Wells Fargo is $2.50 based on the research report published on September 29, 2022 of the previous year 2022.
Citigroup, on the other hand, stated in their research note that they expect to see BKKT reach a price target of $3. The rating they have provided for BKKT stocks is “Neutral” according to the report published on July 19th, 2022.
Jefferies gave a rating of “Hold” to BKKT, setting the target price at $28 in the report published on November 11th of the previous year.
BKKT Trading at -52.91% from the 50-Day Moving Average
After a stumble in the market that brought BKKT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -90.24% of loss for the given period.
Volatility was left at 13.33%, however, over the last 30 days, the volatility rate increased by 22.02%, as shares sank -36.10% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -72.48% lower at present.
During the last 5 trading sessions, BKKT fell by -33.02%, which changed the moving average for the period of 200-days by -85.25% in comparison to the 20-day moving average, which settled at $10.81. In addition, Bakkt Holdings Inc saw -87.96% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BKKT starting from Intercontinental Exchange, Inc, who purchase 350,880 shares at the price of $0.87 back on Apr 25 ’24. After this action, Intercontinental Exchange, Inc now owns 649,934 shares of Bakkt Holdings Inc, valued at $304,213 using the latest closing price.
Intercontinental Exchange, Inc, the 10% Owner of Bakkt Holdings Inc, purchase 2,762,009 shares at $0.87 during a trade that took place back on Mar 04 ’24, which means that Intercontinental Exchange, Inc is holding 7,476,345 shares at $2,394,662 based on the most recent closing price.
Stock Fundamentals for BKKT
Current profitability levels for the company are sitting at:
- -0.22 for the present operating margin
- -0.0 for the gross margin
The net margin for Bakkt Holdings Inc stands at -0.14. The total capital return value is set at -1.04. Equity return is now at value -103.57, with -10.49 for asset returns.
Based on Bakkt Holdings Inc (BKKT), the company’s capital structure generated 0.45 points at debt to capital in total, while cash flow to debt ratio is standing at -1.56. The debt to equity ratio resting at 0.81. The interest coverage ratio of the stock is 8.53.
Currently, EBITDA for the company is -114.29 million with net debt to EBITDA at 0.67. When we switch over and look at the enterprise to sales, we see a ratio of 0.05. The receivables turnover for the company is 26.29for trailing twelve months and the total asset turnover is 0.81. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.10.
Conclusion
To sum up, Bakkt Holdings Inc (BKKT) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
