Bakkt Holdings Inc [NYSE: BKKT] gained 1.02% or 0.0 points to close at $0.46 with a heavy trading volume of 6192064 shares. The company report on March 25, 2024 at 4:20 PM that Bakkt Reports Fourth Quarter and Full Year 2023 Results.
Quarterly gross crypto services revenues of $199.4 million and associated crypto costs and execution, clearing and brokerage fees of $197.8 million.
Quarterly total revenues of $214.5 million include gross crypto revenues and net loyalty revenues; full year total revenues of $780.1 million.
The daily chart for BKKT points out that the company has recorded -61.93% loss over the past six months.
If we look at the average trading volume of 6.36M shares, BKKT reached to a volume of 6192064 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 $1.01 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 0.08, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 0.08. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 0.76.
Trading performance analysis for BKKT stock
Bakkt Holdings Inc [BKKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.73. With this latest performance, BKKT shares dropped by -19.91% in over the last four-week period, additionally sinking by -61.93% over the last 6 months – not to mention a drop of -70.41% 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 33.73, with the RSI for the last a single of trading hit 33.25, and the three-weeks RSI is set at 35.22 for Bakkt Holdings Inc [BKKT]. The present Moving Average for the last 50 days of trading for this stock 0.9026, while it was recorded at 0.4827 for the last single week of trading, and 1.2904 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 1.10 and a Current Ratio set at 1.10.
Bakkt Holdings Inc [BKKT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Bakkt Holdings Inc posted -0.17/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 surpassed the estimates by a Surprise Factor of 5.60%. 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.
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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BKKT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BKKT stock with ownership which is approximately 5.8386%.
