Bakkt Holdings Inc. [BKKT] stock Initiated by Wells Fargo analyst, price target now $2.50

Bakkt Holdings Inc. [NYSE: BKKT] gained 0.58% or 0.01 points to close at $1.73 with a heavy trading volume of 3456393 shares. The company report on April 3, 2023 that Bakkt Completes Acquisition of Apex Crypto.

Acquisition is expected to significantly expand client verticals, drive scale, and bolster path to profitability.

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It opened the trading session at $1.75, the shares rose to $1.81 and dropped to $1.72, the range by which the price of stock traded the whole day. The daily chart for BKKT points out that the company has recorded -24.78% loss over the past six months. However, it is still -60.19% lower than its most recent low trading price.

If we look at the average trading volume of 3.37M shares, BKKT reached to a volume of 3456393 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 $2.02 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 3.20. 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 8.20. The Price to Book ratio for the last quarter was 1.43, with the Price to Cash per share for the same quarter was set at 0.92.

Trading performance analysis for BKKT stock

Bakkt Holdings Inc. [BKKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.76. With this latest performance, BKKT shares gained by 58.72% in over the last four-week period, additionally sinking by -24.78% over the last 6 months – not to mention a drop of -66.54% 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 58.20, with the RSI for the last a single of trading hit 61.80, and the three-weeks RSI is set at 55.59 for Bakkt Holdings Inc. [BKKT]. The present Moving Average for the last 50 days of trading for this stock 1.5122, while it was recorded at 1.6400 for the last single week of trading, and 2.0325 for the last 200 days.

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

Bakkt Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.50.

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

There are presently around $42 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 $7.27 million in BKKT stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $3.28 million in BKKT stock with ownership of nearly 30.406% of the company’s market capitalization.

48 institutional holders increased their position in Bakkt Holdings Inc. [NYSE:BKKT] by around 4,038,883 shares. Additionally, 41 investors decreased positions by around 1,704,914 shares, while 17 investors held positions by with 18,765,629 shares. The mentioned changes placed institutional holdings at 24,509,426 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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