Wall Street Analyst Initiated Bakkt Holdings Inc [BKKT]. What else is Wall St. saying

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Bakkt Holdings Inc [NYSE: BKKT] gained 18.76% or 0.18 points to close at $1.17 with a heavy trading volume of 3495170 shares. The company report on November 15, 2023 at 8:15 AM that Bakkt Announces Relaunch of Bakkt® Custody with Additional Functionality and Expanded Asset Support.

The relaunched platform, built for flexibility and secure innovation, will also offer expanded coin custody capabilities with six additional coins to go live in December.

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Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it has relaunched its Bakkt® Custody platform with enhanced capabilities, a revitalized interface, and a foundation built to enable the rapid addition of future functionality. The redesigned Bakkt® Custody offers segregated on-chain wallet addresses, gives clients the ability to configure security processes in the application and provides access to more advanced reporting features.

It opened the trading session at $1.00, the shares rose to $1.20 and dropped to $1.00, the range by which the price of stock traded the whole day. The daily chart for BKKT points out that the company has recorded -17.61% loss over the past six months. However, it is still -82.81% lower than its most recent low trading price.

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If we look at the average trading volume of 1.09M shares, BKKT reached to a volume of 3495170 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 $1.07 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.

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The Average True Range (ATR) for Bakkt Holdings Inc is set at 0.11, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 0.18. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 1.30.

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 82.44. With this latest performance, BKKT shares gained by 2.63% in over the last four-week period, additionally sinking by -17.61% over the last 6 months – not to mention a drop of -40.91% 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 59.74, with the RSI for the last a single of trading hit 65.44, and the three-weeks RSI is set at 55.77 for Bakkt Holdings Inc [BKKT]. The present Moving Average for the last 50 days of trading for this stock 1.0800, while it was recorded at 0.8716 for the last single week of trading, and 1.3603 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 -324.96 and a Gross Margin at +48.63. Bakkt Holdings Inc’s Net Margin is presently recorded at -1059.44.

Return on Total Capital for BKKT is now -13.15, given the latest momentum, and Return on Invested Capital for the company is -193.12. Return on Equity for this stock declined to -204.76, with Return on Assets sitting at -40.22. When it comes to the capital structure of this company, Bakkt Holdings Inc [BKKT] has a Total Debt to Total Equity ratio set at 38.54. Additionally, BKKT Total Debt to Total Capital is recorded at 27.82, with Total Debt to Total Assets ending up at 8.10. Long-Term Debt to Equity for the company is recorded at 24.31, with the Long-Term Debt to Total Capital now at 17.55.

Reflecting on the efficiency of the workforce at the company, Bakkt Holdings Inc [BKKT] managed to generate an average of -$557,478 per employee. Receivables Turnover for the company is 2.51 with a Total Asset Turnover recorded at a value of 0.04.Bakkt Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.17 and a Current Ratio set at 1.17.

An analysis of Institutional ownership at Bakkt Holdings Inc [BKKT]

The top three institutional holders of BKKT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in BKKT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in BKKT stock with ownership which is approximately 5.7994%.

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