Bakkt Holdings Inc (NYSE: BKKT) Is A Risk Capital Investor’s Play

In the last trading session, 2.93 million Bakkt Holdings Inc (NYSE:BKKT) shares changed hands as the company’s beta touched 4.12. With the company’s per share price at $1.27 changed hands at $0.07 or 5.83% during last session, the market valuation stood at $116.12M. BKKT’s last price was a discount, traded about -125.98% off its 52-week high of $2.87. The share price had its 52-week low at $0.64, which suggests the last value was 49.61% up since then. When we look at Bakkt Holdings Inc’s average trading volume, we note the 10-day average is 3.12 million shares, with the 3-month average coming to 1.17 million.

Analysts gave the Bakkt Holdings Inc (BKKT) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 1 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended BKKT as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Bakkt Holdings Inc’s EPS for the current quarter is expected to be -$0.17.

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Bakkt Holdings Inc (NYSE:BKKT) trade information

Instantly BKKT was in green as seen at the end of in last trading. With action 59.57%, the performance over the past five days has been green. The jump to weekly highs of 1.2800 on Friday, 11/17/23 added 5.83% to the stock’s daily price. The company’s shares are showing year-to-date upside of 6.72%, with the 5-day performance at 59.57% in the green. However, in the 30-day time frame, Bakkt Holdings Inc (NYSE:BKKT) is 18.69% up. Looking at the short shares, we see there were 12.17 million shares sold at short interest cover period of 12.69 days.

The consensus price target for the stock as assigned by Wall Street analysts is $1.07, meaning bulls need a downside of -18.69% from its current market value. According to analyst projections, BKKT’s forecast low is $0.50 with $1.70 as the target high. To hit the forecast high, the stock’s price needs a -33.86% plunge from its current level, while the stock would need to tank 60.63% for it to hit the projected low.

Bakkt Holdings Inc (BKKT) estimates and forecasts

Data shows that the Bakkt Holdings Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -8.63% over the past 6 months, a 91.99% in annual growth rate that is considerably higher than the industry average of 12.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Bakkt Holdings Inc will rise 86.30%, while the growth in revenue is estimated to hit 52.90% for the next quarter. Year-over-year growth is forecast to reach 9.00% up from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $16.38 million. 2 analysts are of the opinion that Bakkt Holdings Inc’s revenue for the quarter ending Mar 2024 will be $17.6 million. The company’s revenue for the corresponding quarters a year ago was $15.6 million and $13 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 5.00%. The estimates for the next quarter sales put growth at 35.40%.

The 2023 estimates are for Bakkt Holdings Inc earnings to increase by 92.39%.

BKKT Dividends

Bakkt Holdings Inc is expected to release its next quarterly earnings report on November 14.

Bakkt Holdings Inc (NYSE:BKKT)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 17.69% of Bakkt Holdings Inc shares while 30.54% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 37.10%. There are 30.54% institutions holding the Bakkt Holdings Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 5.06% of the shares, roughly 4.62 million BKKT shares worth $5.68 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 3.47% or 3.17 million shares worth $3.9 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Exchange Traded Concepts Tr-Bitwise Crypto Industry Innovators ETF and Vanguard Total Stock Market Index Fund. With 2.33 million shares estimated at $2.87 million under it, the former controlled 2.55% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.98% of the shares, roughly 1.81 million shares worth around $2.22 million.

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