Bakkt Holdings Inc. [BKKT] Stock trading around $3.93 per share: What’s Next?

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Bakkt Holdings Inc. [NYSE: BKKT] traded at a high on 05/04/22, posting a 5.08 gain after which it closed the day’ session at $3.93. The company report on May 2, 2022 that Bakkt and Global Payments Announce Strategic Alliance.

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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, and Global Payments (NYSE: GPN), a leading payments technology company delivering innovative software and services to customers globally, today announced a strategic alliance. As part of the agreement, Global Payments and Bakkt will collaborate on use cases starting with enabling cryptocurrency redemption in customer loyalty programs offered by bankcard clients, expanding its banking-as-a-service offerings to include consumer access to cryptocurrency, and ultimately leveraging issuing technologies for linking virtual, debit, credit and prepaid solutions. In addition, Bakkt will broadly partner with Global Payments on multinational merchant payments acceptance.

The results of the trading session contributed to over 5207397 shares changing hands. Over the past one week, the price volatility of Bakkt Holdings Inc. stands at 8.91% while the volatility over the past one month is 10.03%.

The market cap for BKKT stock reached $1.13 billion, with 54.02 million shares outstanding. Compared to the average trading volume of 9.66M shares, BKKT reached a trading volume of 5207397 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $7.00 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 0.46, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 28.66. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 1.36.

How has BKKT stock performed recently?

Bakkt Holdings Inc. [BKKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.61. With this latest performance, BKKT shares dropped by -36.61% in over the last four-week period, additionally sinking by -89.26% over the last 6 months – not to mention a drop of -63.78% 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 35.05, with the RSI for the last a single of trading hit 32.88, and the three-weeks RSI is set at 38.13 for Bakkt Holdings Inc. [BKKT]. The present Moving Average for the last 50 days of trading for this stock 5.27, while it was recorded at 3.90 for the last single week of trading, and 10.15 for the last 200 days.

Bakkt Holdings Inc. [BKKT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bakkt Holdings Inc. [BKKT] shares currently have an operating margin of -465.09. Bakkt Holdings Inc.’s Net Margin is presently recorded at -464.57.

Return on Equity for this stock declined to -56.68, with Return on Assets sitting at -13.96.

Bakkt Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.30 and a Current Ratio set at 6.30.

Insider trade positions for Bakkt Holdings Inc. [BKKT]

There are presently around $70 million, or 34.20% of BKKT stock, in the hands of institutional investors. The top three institutional holders of BKKT stocks are: INVESCO LTD. with ownership of 3,488,609, which is approximately -0.138% of the company’s market cap and around 8.80% of the total institutional ownership; VANGUARD GROUP INC, holding 1,290,009 shares of the stock with an approximate value of $4.83 million in BKKT stocks shares; and LUXOR CAPITAL GROUP, LP, currently with $4.67 million in BKKT stock with ownership of nearly New of the company’s market capitalization.

72 institutional holders increased their position in Bakkt Holdings Inc. [NYSE:BKKT] by around 12,079,930 shares. Additionally, 39 investors decreased positions by around 7,381,116 shares, while 5 investors held positions by with 866,492 shares. The mentioned changes placed institutional holdings at 18,594,554 shares, according to the latest SEC report filing. BKKT stock had 50 new institutional investments in for a total of 10,810,675 shares, while 24 institutional investors sold positions of 4,653,088 shares during the same period.