Bakkt Holdings Inc. [BKKT] Is Currently -26.26 below its 200 Period Moving Avg: What Does This Mean?

Bakkt Holdings Inc. [NYSE: BKKT] slipped around -0.73 points on Friday, while shares priced at $2.05 at the close of the session, down -26.26%. The company report on January 3, 2023 that Bakkt to Participate in Needham Growth Conference.

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Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it will participate in the 25th Annual Needham Growth Conference on Thursday, January 12, 2023. Gavin Michael, President and Chief Executive Officer, will participate in a presentation on the company at 3:00 PM ET. Management will also host one-on-one investor meetings throughout the day.

Interested parties can listen to a live audio webcast of the presentation from the investor relations section of the company’s website at www.bakkt.com. A replay of the webcast will also be available after the event.

Bakkt Holdings Inc. stock is now 72.27% up from its year-to-date (YTD) trading value. BKKT Stock saw the intraday high of $2.53 and lowest of $1.97 per share. The company’s 52-week high price is 9.01, which means current price is +81.42% above from all time high which was touched on 01/12/23.

Compared to the average trading volume of 1.84M shares, BKKT reached a trading volume of 19510032 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 $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 2.70. 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 0.27, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 9.36. The Price to Book ratio for the last quarter was 0.85, with the Price to Cash per share for the same quarter was set at 0.76.

How has BKKT stock performed recently?

Bakkt Holdings Inc. [BKKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 54.14. With this latest performance, BKKT shares gained by 25.77% in over the last four-week period, additionally sinking by -16.67% over the last 6 months – not to mention a drop of -66.12% 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 59.26, with the RSI for the last a single of trading hit 61.12, and the three-weeks RSI is set at 56.90 for Bakkt Holdings Inc. [BKKT]. The present Moving Average for the last 50 days of trading for this stock 1.66, while it was recorded at 1.81 for the last single week of trading, and 2.62 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 2.50 and a Current Ratio set at 2.50.

Insider trade positions for Bakkt Holdings Inc. [BKKT]

There are presently around $45 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 1.50% of the total institutional ownership; BLACKROCK INC., holding 3,690,296 shares of the stock with an approximate value of $7.57 million in BKKT stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $2.99 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 February and at the time of the February reporting period, where 50 institutional holders increased their position in Bakkt Holdings Inc. [NYSE:BKKT] by around 3,598,397 shares. Additionally, 39 investors decreased positions by around 1,885,689 shares, while 17 investors held positions by with 16,700,295 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 14 institutional investors sold positions of 291,569 shares during the same period.

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