Bakkt Holdings Inc (NYSE: BKKT)’s stock price has increased by 11.33 compared to its previous closing price of 15.62. However, the company has seen a 51.75% increase in its stock price over the last five trading sessions. businesswire.com reported 2024-05-23 that ALPHARETTA, Ga.–(BUSINESS WIRE)–Bakkt Holdings, Inc. (NYSE: BKKT) announced today that Ray Kamrath was appointed as the Chief Commercial Officer of Bakkt’s crypto business. In this newly created position, Kamrath will report to Andy Main, Bakkt’s Chief Executive Officer. “By appointing Ray Kamrath to lead our commercial efforts, Bakkt is doubling down on our commitment to strategic expansion and growth. Ray brings a depth of experience and a proven track record of delivering business results,.
Is It Worth Investing in Bakkt Holdings Inc (NYSE: BKKT) Right Now?
The 36-month beta value for BKKT is also noteworthy at 4.52. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for BKKT is 5.83M, and at present, short sellers hold a 20.65% of that float. The average trading volume of BKKT on May 27, 2024 was 380.83K shares.
BKKT’s Market Performance
BKKT’s stock has seen a 51.75% increase for the week, with a 88.66% rise in the past month and a -27.35% fall in the past quarter. The volatility ratio for the week is 26.91%, and the volatility levels for the past 30 days are at 21.65% for Bakkt Holdings Inc The simple moving average for the last 20 days is 67.59% for BKKT stock, with a simple moving average of -35.95% for the last 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 54.57% 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 -74.71% of loss for the given period.
Volatility was left at 21.65%, however, over the last 30 days, the volatility rate increased by 26.91%, as shares surge +74.03% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +30.04% upper at present.
During the last 5 trading sessions, BKKT rose by +51.75%, which changed the moving average for the period of 200-days by -50.67% in comparison to the 20-day moving average, which settled at $10.75. In addition, Bakkt Holdings Inc saw -68.81% 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:
- -0.09 for the present operating margin
- 0.02 for the gross margin
The net margin for Bakkt Holdings Inc stands at -0.04. The total capital return value is set at -0.86. Equity return is now at value -94.41, with -6.94 for asset returns.
Based on Bakkt Holdings Inc (BKKT), the company’s capital structure generated 0.4 points at debt to capital in total, while cash flow to debt ratio is standing at 0.67. The debt to equity ratio resting at 0.66. The interest coverage ratio of the stock is -7.55.
Currently, EBITDA for the company is -114.29 million with net debt to EBITDA at 1.04. When we switch over and look at the enterprise to sales, we see a ratio of 0.03. The receivables turnover for the company is 43.64for trailing twelve months and the total asset turnover is 1.03. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.07.
Conclusion
In summary, Bakkt Holdings Inc (BKKT) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing 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.
