A share of Bakkt Holdings Inc. (NYSE:BKKT) closed at $2.00 per share on Friday, down from $2.02 day before. While Bakkt Holdings Inc. has underperformed by -0.99%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, BKKT fell by -59.84%, with highs and lows ranging from $9.01 to $1.13, whereas the simple moving average fell by -21.73% in the last 200 days.
On September 29, 2022, Wells Fargo started tracking Bakkt Holdings Inc. (NYSE: BKKT) recommending Equal Weight. A report published by Citigroup on July 19, 2022, Initiated its previous ‘Neutral’ rating for BKKT. Jefferies also rated BKKT shares as ‘Hold’, setting a target price of $28 on the company’s shares in an initiating report dated November 11, 2021.
Analysis of Bakkt Holdings Inc. (BKKT)
Further, the quarter-over-quarter increase in sales is 41.80%, showing a positive trend in the upcoming months.
Bakkt Holdings Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -149.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and BKKT is registering an average volume of 2.33M. On a monthly basis, the volatility of the stock is set at 17.25%, whereas on a weekly basis, it is put at 18.03%, with a loss of -28.06% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.42, showing growth from the present price of $2.00, which can serve as yet another indication of whether BKKT is worth investing in or should be passed over.
How Do You Analyze Bakkt Holdings Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 30.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in BKKT shares?
The recent increase in stakes in BKKT appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in BKKT has increased by 8.23% in the first quarter. The company now owns 5,280,321 shares of the stock, with a value of $6.28 million, following the purchase of 401,402 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in BKKT during the first quarter, upping its stake by 1.53%. During the last quarter, the company picked up 50,195 additional shares for a total stake of worth $3.96 million, bringing number of shares owned by the company to 3,327,223.
During the first quarter, Global X Management Co. LLC added a 852,989 position in BKKT. Geode Capital Management LLC purchased an additional 0.23 million shares in the last quarter, increasing its holdings by 19.57%, now holding 1.41 million shares worth $1.67 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its BKKT holdings by 7.78% and now holds 1.14 million BKKT shares valued at $1.36 million with the added 82341.0 shares during the period. BKKT shares are owned by institutional investors to the tune of 30.80% at present.