For Bakkt Holdings Inc. [BKKT], Analyst sees a rise to $2.50. What next?

Bakkt Holdings Inc. [NYSE: BKKT] gained 16.92% or 0.22 points to close at $1.52 with a heavy trading volume of 2757204 shares. The company report on December 13, 2022 that Bakkt Study Finds Future Crypto Purchase Consideration Holds Steady Despite Recent Crypto Failures.

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Study examines sentiment of crypto owners and crypto curious following summer volatility and the collapse of FTX.

Bakkt Holdings Inc (NYSE: BKKT) (“Bakkt”), a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients, today released findings from its “Bi-Annual U.S. Consumer Crypto Sentiment Study” of more than 2,000 U.S. consumers who own crypto or are interested in crypto, examining their interest in crypto following the summer volatility, their preferred security features and outlook for crypto’s role in the global financial system. An additional short-term assessment of more than 1,000 consumers after the collapse of FTX who own or are interested in crypto was also fielded to understand the impact of the FTX collapse on initial findings. Despite the recent FTX collapse, future purchase consideration of crypto holds steady for both crypto owners and crypto curious, with only a 7% decline in future consideration for crypto owners and a surprising 2% increase for crypto curious. Overall, almost half say their interest in purchasing crypto hasn’t changed.

It opened the trading session at $1.32, the shares rose to $1.55 and dropped to $1.28, the range by which the price of stock traded the whole day. The daily chart for BKKT points out that the company has recorded -38.96% loss over the past six months. However, it is still -17.83% lower than its most recent low trading price.

If we look at the average trading volume of 1.35M shares, BKKT reached to a volume of 2757204 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $2.55 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.

Wells Fargo have made an estimate for Bakkt Holdings Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on September 29, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on July 19, 2022, representing the official price target for Bakkt Holdings Inc. stock. Previously, the target price had yet another raise to $28, while Jefferies analysts kept a Hold rating on BKKT stock.

The Average True Range (ATR) for Bakkt Holdings Inc. is set at 0.13, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 5.33. The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 1.00.

Trading performance analysis for BKKT stock

Bakkt Holdings Inc. [BKKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.30. With this latest performance, BKKT shares dropped by -6.75% in over the last four-week period, additionally sinking by -38.96% over the last 6 months – not to mention a drop of -83.66% 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 42.97, with the RSI for the last a single of trading hit 46.47, and the three-weeks RSI is set at 41.90 for Bakkt Holdings Inc. [BKKT]. The present Moving Average for the last 50 days of trading for this stock 1.8588, while it was recorded at 1.3920 for the last single week of trading, and 2.9406 for the last 200 days.

Bakkt Holdings Inc. [BKKT]: A deeper dive into fundamental analysis

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 2.50 and a Current Ratio set at 2.50.

An analysis of insider ownership at Bakkt Holdings Inc. [BKKT]

There are presently around $34 million, or 30.80% of BKKT stock, in the hands of institutional investors. The top three institutional holders of BKKT stocks are: VANGUARD GROUP INC with ownership of 5,332,948, which is approximately 8.206% of the company’s market cap and around 1.80% of the total institutional ownership; BLACKROCK INC., holding 3,690,296 shares of the stock with an approximate value of $5.61 million in BKKT stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $2.22 million in BKKT stock with ownership of nearly 162.449% of the company’s market capitalization.

Positions in Bakkt Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 50 institutional holders increased their position in Bakkt Holdings Inc. [NYSE:BKKT] by around 3,598,397 shares. Additionally, 40 investors decreased positions by around 1,885,694 shares, while 17 investors held positions by with 16,700,290 shares. The mentioned changes placed institutional holdings at 22,184,381 shares, according to the latest SEC report filing. BKKT stock had 19 new institutional investments in for a total of 748,062 shares, while 15 institutional investors sold positions of 291,574 shares during the same period.


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