Market Analysts see Bakkt Holdings Inc. [BKKT] gaining to $2.50. Time to buy?

Bakkt Holdings Inc. [NYSE: BKKT] traded at a high on 03/13/23, posting a 18.35 gain after which it closed the day’ session at $1.29. The company report on March 9, 2023 that Bakkt Reports Fourth Quarter and Full Year 2022 Results.

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Quarterly net revenues of $15.6 million, increased 14% year over year; full year net revenues of $54.6 million, increased 38% year over year.

Strong customer activity with fourth quarter digital asset conversion volume up 19% year over year and full year digital asset conversion volume up 51% year over year.

The results of the trading session contributed to over 8377011 shares changing hands. Over the past one week, the price volatility of Bakkt Holdings Inc. stands at 14.43% while the volatility over the past one month is 9.50%.

The market cap for BKKT stock reached $381.19 million, with 76.59 million shares outstanding and 60.65 million shares in the current float. Compared to the average trading volume of 2.96M shares, BKKT reached a trading volume of 8377011 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 $2.02 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 0.16, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 4.86. The Price to Book ratio for the last quarter was 0.53, with the Price to Cash per share for the same quarter was set at 0.93.

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 -3.01. With this latest performance, BKKT shares dropped by -16.77% in over the last four-week period, additionally sinking by -56.42% over the last 6 months – not to mention a drop of -75.75% 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 42.75, with the RSI for the last a single of trading hit 43.36, and the three-weeks RSI is set at 43.66 for Bakkt Holdings Inc. [BKKT]. The present Moving Average for the last 50 days of trading for this stock 1.5680, while it was recorded at 1.2280 for the last single week of trading, and 2.1355 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 -322.53 and a Gross Margin at -201.10. Bakkt Holdings Inc.’s Net Margin is presently recorded at -1057.51.

Return on Equity for this stock declined to -204.25, with Return on Assets sitting at -40.17.

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 $32 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 5,556,625, which is approximately 4.194% of the company’s market cap and around 1.50% of the total institutional ownership; BLACKROCK INC., holding 4,226,590 shares of the stock with an approximate value of $5.45 million in BKKT stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $2.46 million in BKKT stock with ownership of nearly 30.406% of the company’s market capitalization.

Positions in Bakkt Holdings Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 48 institutional holders increased their position in Bakkt Holdings Inc. [NYSE:BKKT] by around 4,038,883 shares. Additionally, 40 investors decreased positions by around 1,703,814 shares, while 17 investors held positions by with 18,764,429 shares. The mentioned changes placed institutional holdings at 24,507,126 shares, according to the latest SEC report filing. BKKT stock had 13 new institutional investments in for a total of 370,213 shares, while 19 institutional investors sold positions of 1,164,139 shares during the same period.


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