Bakkt Holdings Inc [NYSE: BKKT] traded at a low on Friday, posting a 0.00 loss after which it closed the day’ session at $0.58. The company report on February 29, 2024 at 8:52 AM that Bakkt Announces $40 Million Registered Direct Offering with Institutional Investors and $10 Million Concurrent Registered Direct Offering.
Offering at $0.8670 per share plus Warrants.
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Bakkt Holdings, Inc. (“Bakkt”) (NYSE: BKKT) today announced that it has entered into two securities purchase agreements, which relate to:.
The results of the trading session contributed to over 16086581 shares changing hands. Over the past one week, the price volatility of Bakkt Holdings Inc stands at 20.64% while the volatility over the past one month is 13.47%.
The market cap for BKKT stock reached $55.34 million, with 95.42 million shares outstanding and 80.96 million shares in the current float. Compared to the average trading volume of 5.31M shares, BKKT reached a trading volume of 16086581 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 $1.31 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 0.15, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 0.10. The Price to Book ratio for the last quarter was 0.76, with the Price to Cash per share for the same quarter was set at 1.25.
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 -34.14. With this latest performance, BKKT shares dropped by -57.66% in over the last four-week period, additionally sinking by -61.07% over the last 6 months – not to mention a drop of -58.87% 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 29.94, with the RSI for the last a single of trading hit 25.53, and the three-weeks RSI is set at 33.58 for Bakkt Holdings Inc [BKKT]. The present Moving Average for the last 50 days of trading for this stock 1.4242, while it was recorded at 0.8187 for the last single week of trading, and 1.3763 for the last 200 days.
Bakkt Holdings Inc [BKKT]: Deeper insight into the fundamentals
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.
Earnings analysis for Bakkt Holdings Inc [BKKT]
With the latest financial reports released by the company, Bakkt Holdings Inc posted -1.24/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -588.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BKKT.
Insider trade positions for 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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BKKT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BKKT stock with ownership which is approximately 5.8325%.
