Bakkt Holdings Inc. (NYSE: BKKT) stock fell -4.00% on Monday to $1.92 against a previous-day closing price of $2.00. With 4.44 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.4 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $2.0400 whereas the lowest price it dropped to was $1.8600. The 52-week range on BKKT shows that it touched its highest point at $9.01 and its lowest point at $1.13 during that stretch. It currently has a 1-year price target of $2.42.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BKKT was down-trending over the past week, with a drop of -6.34%, but this was up by 44.36% over a month. Three-month performance dropped to -8.57% while six-month performance fell -28.62%. The stock lost -59.58% in the past year, while it has gained 61.34% so far this year. A look at the trailing 12-month EPS for BKKT yields -9.44 with Next year EPS estimates of -0.65. For the next quarter, that number is -0.18. This implies an EPS growth rate of -701.20% for this year and 90.00% for next year.
Float and Shares Shorts:
At present, 76.59 million BKKT shares are outstanding with a float of 61.58 million shares on hand for trading. On Oct 13, 2022, short shares totaled 11.66 million, which was 15.26% higher than short shares on Sep 14, 2022. In addition to Dr. Gavin Constantine Michael as the firm’s Pres, CEO & Director, Mr. Marc D’Annunzio serves as its Gen. Counsel & Sec.
Through their ownership of 29.29% of BKKT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.41% of BKKT, in contrast to 23.37% held by mutual funds. Shares owned by individuals account for 18.38%. As the largest shareholder in BKKT with 6.91% of the stake, The Vanguard Group, Inc. holds 5,280,321 shares worth 5,280,321. A second-largest stockholder of BKKT, BlackRock Fund Advisors, holds 3,327,223 shares, controlling over 4.35% of the firm’s shares. Global X Management Co. LLC is the third largest shareholder in BKKT, holding 1,407,517 shares or 1.84% stake. With a 2.36% stake in BKKT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,805,265 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.02% of BKKT stock, is the second-largest Mutual Fund holder. It holds 1,547,417 shares valued at 1.84 million. iShares Russell 2000 ETF holds 1.89% of the stake in BKKT, owning 1,444,583 shares worth 1.72 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BKKT since 3 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BKKT analysts setting a high price target of $2.25 and a low target of $2.00, the average target price over the next 12 months is $2.15. Based on these targets, BKKT could surge 17.19% to reach the target high and rise by 4.17% to reach the target low. Reaching the average price target will result in a growth of 11.98% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BKKT will report FY 2022 earnings on 02/15/2024. Analysts have provided yearly estimates in a range of -$4.27 being high and -$6.49 being low. For BKKT, this leads to a yearly average estimate of -$5.75. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Bakkt Holdings Inc. surprised analysts by -$5.99 when it reported -$6.11 EPS against a consensus estimate of -$0.12. The surprise factor in the prior quarter was $0.11. Based on analyst estimates, the high estimate for the next quarter is -$0.14 and the low estimate is -$0.21. The average estimate for the next quarter is thus -$0.18.
Summary of Insider Activity:
Insiders traded BKKT stock several times over the past three months with 0 Buys and 4 Sells. In these transactions, 0 shares were bought while 258,627 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 2,583,742 while 1,390,229 shares were sold.