Peak6 Capital Management LLC recently announced the acquisition of new stake in Bakkt Holdings Inc (NYSE:BKKT). This fresh investment now brings its stake to 6.72% valued currently at $9.21 million. In addition, The Vanguard Group, Inc. raised its holdings by 6397.0 to 3.13 million shares. And Exchange Traded Concepts LLC has lifted its position by 14.67% or 0.33 million shares – to 2.6 million shares.
With over 3.78 million Bakkt Holdings Inc (BKKT) shares trading Tuesday and a closing price of $1.85 on the day, the dollar volume was approximately $7.0 million. The shares have shown a positive half year performance of 12.80% and its price on 01/09/24 lost nearly -7.50%. Currently, there are 80.93M common shares owned by the public and among those 76.19M shares have been available to trade.
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Insiders at the company have transacted a total of 72 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 5,068,374 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 4,594,682 shares.
The top 3 mutual fund holders in Bakkt Holdings Inc are Bitwise Crypto Industry Innovator, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. Bitwise Crypto Industry Innovator owns 2.48 million shares of the company’s stock, all valued at over $3.73 million. iShares Russell 2000 ETF bought 879.0 shares to bring its total holdings to over 1.79 million shares at a value of $2.69 million. iShares Russell 2000 ETF now owns shares totaling to 1.96% of the shares outstanding.
Shares of Bakkt Holdings Inc (NYSE: BKKT) opened at $1.98, down -$0.02 from a prior closing price of $2.00. The company’s stock has a 5-day price change of -12.74% and 62.28% over the past three months. BKKT shares are trading -17.04% year to date (YTD), with the 12-month market performance up to 39.10% higher. It has a 12-month low price of $0.64 and touched a high of $2.87 over the same period. BKKT has an average intraday trading volume of 3.70 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.75%, 19.85%, and 30.24% respectively.
Institutional ownership of Bakkt Holdings Inc (NYSE: BKKT) shares accounts for 34.23% of the company’s 80.93M shares outstanding. Mutual fund holders own 15.37%, while other institutional holders and individual stakeholders account for 20.71% and 12.41% respectively.
It has a market capitalization of $169.15M and a beta (3y monthly) value of 4.45. The earnings-per-share (ttm) stands at -$1.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.29% over the week and 12.99% over the month.
Analysts forecast that Bakkt Holdings Inc (BKKT) will achieve an EPS of $BlackRock Income Trust Inc. (Th for the current quarter, $12.28 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Brookdale Senior Living Inc. 7. while analysts give the company a high EPS estimate of $BANK OF UTICA. Comparatively, EPS for the current quarter was $BKKN a year ago. Earnings per share for the fiscal year are expected to increase by 88.95%, and 42.01% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Bakkt Holdings Inc (BKKT) as a “Hold” at a consensus score of 3.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the BKKT, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on September 29, 2022, with the firm’s price target at $2.50.
