Bakkt Holdings Inc. [BKKT] Revenue clocked in at $52.00 million, down -70.74% YTD: What’s Next?

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Bakkt Holdings Inc. [NYSE: BKKT] stock went on an upward path that rose over 11.66% on Thursday, amounting to a one-week price increase of more than 8.73%. The company report on June 16, 2022 that Bakkt Holdings Set to Join Russell 3000® Index.


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Bakkt Holdings, Inc. (NYSE: BKKT), a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients, announced today it is set to join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the U.S. market opens on June 27, 2022, according to a preliminary list of additions posted on June 3, 2022.

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, 2022, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Over the last 12 months, BKKT stock dropped by -75.17%. The one-year Bakkt Holdings Inc. stock forecast points to a potential upside of 17.0. 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 $608.38 million, with 57.16 million shares outstanding and 41.31 million shares in the current float. Compared to the average trading volume of 4.63M shares, BKKT stock reached a trading volume of 3452595 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 $3.00 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 0.27, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 11.70. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 1.45.

BKKT Stock Performance Analysis:

Bakkt Holdings Inc. [BKKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.73. With this latest performance, BKKT shares gained by 3.75% in over the last four-week period, additionally sinking by -72.88% over the last 6 months – not to mention a drop of -75.17% 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 45.22, with the RSI for the last a single of trading hit 50.00, and the three-weeks RSI is set at 42.76 for Bakkt Holdings Inc. [BKKT]. The present Moving Average for the last 50 days of trading for this stock 3.17, while it was recorded at 2.30 for the last single week of trading, and 8.90 for the last 200 days.

Insight into Bakkt Holdings Inc. 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 5.90 and a Current Ratio set at 5.90.

Bakkt Holdings Inc. [BKKT] Insider Position Details

There are presently around $24 million, or 15.40% of BKKT stock, in the hands of institutional investors. The top three institutional holders of BKKT stocks are: VANGUARD GROUP INC with ownership of 2,158,040, which is approximately 67.289% of the company’s market cap and around 17.70% of the total institutional ownership; CORBIN CAPITAL PARTNERS, L.P., holding 958,727 shares of the stock with an approximate value of $2.14 million in BKKT stocks shares; and EXCHANGE TRADED CONCEPTS, LLC, currently with $2.04 million in BKKT stock with ownership of nearly 93.718% of the company’s market capitalization.

Positions in Bakkt Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 57 institutional holders increased their position in Bakkt Holdings Inc. [NYSE:BKKT] by around 4,044,774 shares. Additionally, 49 investors decreased positions by around 11,440,479 shares, while 7 investors held positions by with 4,878,241 shares. The mentioned changes placed institutional holdings at 10,607,012 shares, according to the latest SEC report filing. BKKT stock had 23 new institutional investments in for a total of 677,568 shares, while 29 institutional investors sold positions of 6,746,636 shares during the same period.

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