Bakkt Holdings Inc (NYSE: BKKT) has seen a rise in its stock price by 162.46 in relation to its previous close of 11.32. However, the company has experienced a 138.63% gain in its stock price over the last five trading sessions. pymnts.com reported 2024-11-18 that President-elect Donald Trump’s Trump Media & Technology (TMTG) is reportedly in advanced talks to buy cryptocurrency trading venue Bakkt. TMTG is near an all-share purchase of Bakkt, the Financial Times (FT) reported Monday (Nov. 18), citing unnamed sources.
Is It Worth Investing in Bakkt Holdings Inc (NYSE: BKKT) Right Now?
Company’s 36-month beta value is 4.57.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for BKKT is 5.92M, and currently, short sellers hold a 13.55% ratio of that floaft. The average trading volume of BKKT on November 19, 2024 was 118.76K shares.
BKKT’s Market Performance
BKKT’s stock has seen a 138.63% increase for the week, with a 163.15% rise in the past month and a 120.73% gain in the past quarter. The volatility ratio for the week is 47.01%, and the volatility levels for the past 30 days are at 17.89% for Bakkt Holdings Inc The simple moving average for the past 20 days is 152.35% for BKKT’s stock, with a 103.52% 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 171.03% 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 -56.79% of loss for the given period.
Volatility was left at 17.89%, however, over the last 30 days, the volatility rate increased by 47.01%, as shares surge +159.02% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +149.24% upper at present.
During the last 5 trading sessions, BKKT rose by +138.63%, which changed the moving average for the period of 200-days by -13.26% in comparison to the 20-day moving average, which settled at $11.77. In addition, Bakkt Holdings Inc saw -46.71% 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:
- -0.05 for the present operating margin
- 0.16 for the gross margin
The net margin for Bakkt Holdings Inc stands at -0.03. The total capital return value is set at -0.7. Equity return is now at value -90.45, with -5.34 for asset returns.
Currently, EBITDA for the company is -116.09 million with net debt to EBITDA at 0.39. When we switch over and look at the enterprise to sales, we see a ratio of 0.09. The receivables turnover for the company is 71.21for trailing twelve months and the total asset turnover is 1.61. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.05.
Conclusion
In a nutshell, Bakkt Holdings Inc (BKKT) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
