Bakkt Holdings Inc [NYSE: BKKT] plunged by -$0.07 during the normal trading session on while it closed the day at $0.53. The company report on March 13, 2024 at 5:40 PM that Bakkt Notified by NYSE of Non-Compliance with NYSE Trading Share Price Listing Rule.
Intends to cure the deficiency and return to compliance with NYSE standard.
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Bakkt Holdings, Inc. (NYSE: BKKT) announced today that the New York Stock Exchange (the “NYSE”) notified the Company (the “Notice”) that the Company is not in compliance with Section 802.01C of the NYSE Listed Company Manual because, as of March 12, 2024, the average closing price of the Company’s Class A Common Stock (the “Common Stock”) was less than $1.00 per share over a consecutive 30-day trading period. The notice does not result in the immediate delisting of the Common Stock from the NYSE.
Bakkt Holdings Inc stock has also loss -10.43% of its value over the past 7 days. However, BKKT stock has declined by -68.90% in the 3 months of the year. Over the past six months meanwhile, it has lost -57.21% and lost -76.01% year-on date.
The market cap for BKKT stock reached $71.68 million, with 134.00 million shares outstanding and 110.67 million shares in the current float. Compared to the average trading volume of 5.93M shares, BKKT reached a trading volume of 6765652 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 0.10, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 0.12. The Price to Book ratio for the last quarter was 0.71, with the Price to Cash per share for the same quarter was set at 0.89.
BKKT stock trade performance evaluation
Bakkt Holdings Inc [BKKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.43. With this latest performance, BKKT shares dropped by -44.01% in over the last four-week period, additionally sinking by -57.21% over the last 6 months – not to mention a drop of -56.16% 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 31.31, with the RSI for the last a single of trading hit 28.27, and the three-weeks RSI is set at 34.19 for Bakkt Holdings Inc [BKKT]. The present Moving Average for the last 50 days of trading for this stock 1.1657, while it was recorded at 0.5827 for the last single week of trading, and 1.3397 for the last 200 days.
Bakkt Holdings Inc [BKKT]: An insightful look at the core 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 per share (EPS) analysis for Bakkt Holdings Inc [BKKT] stock
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.
Bakkt Holdings Inc [BKKT]: Institutional Ownership
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%.
