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Bakkt Holdings Inc (BKKT) Analysis & Forecast for 2024

Bakkt Holdings Inc (NYSE: BKKT) is -81.17% lower on its value in year-to-date trading and has touched a low of $0.41 and a high of $2.75 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BKKT stock was last observed hovering at around $0.46 in the last trading session, with the day’s loss setting it -0.04%.

Currently trading at $0.42, the stock is -24.04% and -53.47% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.44 million and changing -9.58% at the moment leaves the stock -67.45% off its SMA200. BKKT registered -74.39% loss for a year compared to 6-month loss of -64.10%. The firm has a 50-day simple moving average (SMA 50) of $0.02 and a 200-day simple moving average (SMA200) of -$0.14.

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The stock witnessed a -27.59% gain in the last 1 month and extending the period to 3 months gives it a -81.17%, and is -25.31% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 13.17% over the week and 11.40% over the month.

Bakkt Holdings Inc (BKKT) has around 747 employees, a market worth around $56.28M and $779.90M in sales. Profit margin for the company is -9.60%. Distance from 52-week low is 2.19% and -84.73% from its 52-week high. The company has generated returns on investments over the last 12 months (-104.24%).

Bakkt Holdings Inc quarterly earnings per share for the current quarter are estimated at -$0.08 with sales reaching $17.4M over the same period.The EPS is expected to grow by 35.23% this year, but quarterly earnings will post -89.70% year-over-year. Quarterly sales are estimated to grow 33.80% in year-over-year returns.

Bakkt Holdings Inc (BKKT) Top Institutional Holders

142 institutions hold shares in Bakkt Holdings Inc (BKKT), with institutional investors hold 29.46% of the company’s shares. The shares outstanding are 134.00M, and float is at 108.13M with Short Float at 17.26%. Institutions hold 23.77% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 4.62 million shares valued at $5.68 million. The investor’s holdings represent 5.06% of the BKKT Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 3.17 million shares valued at $3.9 million to account for 3.47% of the shares outstanding. The other top investors are Exchange Traded Concepts LLC which holds 2.27 million shares representing 2.48% and valued at over $2.65 million, while Geode Capital Management, LLC holds 2.10% of the shares totaling 1.92 million with a market value of $2.36 million.

Bakkt Holdings Inc (BKKT) Insider Activity

The most recent transaction is an insider purchase by Intercontinental Exchange, Inc,the company’s10% Owner. SEC filings show that Intercontinental Exchange, Inc bought 2,762,009 shares of the company’s common stock on Mar 04 ’24 at a price of $0.87 per share for a total of $2.39 million. Following the purchase, the insider now owns 7.48 million shares.

Bakkt Holdings Inc disclosed in a document filed with the SEC on Feb 23 ’24 that D’Annunzio Marc (General Counsel & Secretary) sold a total of 50,247 shares of the company’s common stock. The trade occurred on Feb 23 ’24 and was made at $0.88 per share for $44047.0. Following the transaction, the insider now directly holds 0.57 million shares of the BKKT stock.

Still, SEC filings show that on Feb 08 ’24, D’Annunzio Marc (General Counsel & Secretary) disposed off 19,329 shares at an average price of $0.98 for $18927.0. The insider now directly holds 638,157 shares of Bakkt Holdings Inc (BKKT).

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