Bakkt Holdings Inc (NYSE: BKKT) stock jumped 7.87% on Monday to $1.37 against a previous-day closing price of $1.27. With 6.8 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.2 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $1.6800 whereas the lowest price it dropped to was $1.3350. The 52-week range on BKKT shows that it touched its highest point at $2.87 and its lowest point at $0.64 during that stretch. It currently has a 1-year price target of $1.07. Beta for the stock currently stands at 4.17.
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 up-trending over the past week, with a rise of 90.28%, but this was up by 29.25% over a month. Three-month performance surged to 7.87% while six-month performance fell -7.43%. The stock lost -28.27% in the past year, while it has gained 15.13% so far this year. A look at the trailing 12-month EPS for BKKT yields -1.77 with Next year EPS estimates of -0.24. For the next quarter, that number is -0.10. This implies an EPS growth rate of 92.39% for this year and 60.94% for next year.
Float and Shares Shorts:
At present, 80.93 million BKKT shares are outstanding with a float of 73.46 million shares on hand for trading. On Oct 30, 2023, short shares totaled 12.17 million, which was 13.33% higher than short shares on Sep 28, 2023. In addition to Dr. Gavin Constantine Michael as the firm’s President, CEO & Director, Ms. Karen J. Alexander CFA serves as its CFO & Principal Financial Officer.
Through their ownership of 30.54% of BKKT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 19.80% of BKKT, in contrast to 15.39% held by mutual funds. Shares owned by individuals account for 15.29%. As the largest shareholder in BKKT with 6.72% of the stake, Peak6 Capital Management LLC holds 6,140,610 shares worth 6,140,610. A second-largest stockholder of BKKT, BlackRock Fund Advisors, holds 3,981,588 shares, controlling over 4.36% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in BKKT, holding 3,126,140 shares or 3.42% stake. With a 2.56% stake in BKKT, the Bitwise Crypto Industry Innovator is the largest stakeholder. A total of 2,335,541 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.98% of BKKT stock, is the second-largest Mutual Fund holder. It holds 1,805,265 shares valued at 1.82 million. iShares Russell 2000 ETF holds 1.89% of the stake in BKKT, owning 1,723,544 shares worth 1.74 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BKKT since 0 analysts follow the stock currently. 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 $1.70 and a low target of $0.50, the average target price over the next 12 months is $1.07. Based on these targets, BKKT could surge 24.09% to reach the target high and fall by -63.5% to reach the target low. Reaching the average price target will result in a decline of -21.9% from current levels.
Summary of Insider Activity:
Insiders traded BKKT stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 20,909 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 42 over the past year. The total number of shares bought during that period was 5,068,374 while 5,025,319 shares were sold.