Bakkt Holdings Inc. [BKKT] fell -25.15% so far this year. What now?


Bakkt Holdings Inc. [NYSE: BKKT] stock went on an upward path that rose over 7.60% on Tuesday, amounting to a one-week price decrease of less than -15.41%. The company report on December 21, 2021 that Manasquan Bank Selects Bakkt to Offer Retail Clients Access to Cryptocurrency.

Manasquan Bank modernizes its digital banking offerings by expanding access for clients to buy, sell and hold cryptocurrencies.

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Bakkt Holdings, Inc. (NYSE: BKKT), a trusted digital asset platform that enables consumers to buy, sell, send and spend a range of digital assets, today announced that Manasquan Bank, a NJ-based mutual community bank with total consolidated assets of $2.7 billion, will be participating in its early adopter program, which, when effective, will allow the bank’s retail clients to buy, sell and hold cryptocurrency through the bank’s mobile banking app.

Over the last 12 months, BKKT stock dropped by -63.18%. The one-year Bakkt Holdings Inc. stock forecast points to a potential upside of 52.81. The average equity rating for BKKT stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.64 billion, with 25.92 million shares outstanding. Compared to the average trading volume of 13.99M shares, BKKT stock reached a trading volume of 5327489 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Bakkt Holdings Inc. [BKKT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BKKT shares is $13.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BKKT stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Bakkt Holdings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 11, 2021.

The Average True Range (ATR) for Bakkt Holdings Inc. is set at 1.32, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 46.65. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.00.

BKKT Stock Performance Analysis:

Bakkt Holdings Inc. [BKKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.41. With this latest performance, BKKT shares dropped by -56.16% in over the last four-week period, additionally sinking by -35.72% over the last 6 months – not to mention a drop of -63.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BKKT stock in for the last two-week period is set at 32.36, with the RSI for the last a single of trading hit 28.88, and the three-weeks RSI is set at 36.34 for Bakkt Holdings Inc. [BKKT]. The present Moving Average for the last 50 days of trading for this stock 16.03, while it was recorded at 6.17 for the last single week of trading, and 12.32 for the last 200 days.

Insight into Bakkt Holdings Inc. Fundamentals:

Bakkt Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

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Bakkt Holdings Inc. [BKKT] Insider Position Details

There are presently around $85 million, or 32.00% of BKKT stock, in the hands of institutional investors. The top three institutional holders of BKKT stocks are: INVESCO LTD. with ownership of 3,493,439, which is approximately -3.003% of the company’s market cap and around 2.00% of the total institutional ownership; AZORA CAPITAL LP, holding 1,732,577 shares of the stock with an approximate value of $11.04 million in BKKT stocks shares; and TOROSO INVESTMENTS, LLC, currently with $7.78 million in BKKT stock with ownership of nearly 3.199% of the company’s market capitalization.

37 institutional holders increased their position in Bakkt Holdings Inc. [NYSE:BKKT] by around 5,541,685 shares. Additionally, 28 investors decreased positions by around 6,051,289 shares, while 8 investors held positions by with 1,723,650 shares. The mentioned changes placed institutional holdings at 13,316,624 shares, according to the latest SEC report filing. BKKT stock had 18 new institutional investments in for a total of 3,804,836 shares, while 16 institutional investors sold positions of 2,192,618 shares during the same period.