In the last trading session, 8.09 million Bakkt Holdings Inc (NYSE:BKKT) shares changed hands as the company’s beta touched 4.01. With the company’s per share price at $0.54 changed hands at -$0.01 or -2.64% during last session, the market valuation stood at $72.15M. BKKT’s last price was a discount, traded about -409.26% off its 52-week high of $2.75. The share price had its 52-week low at $0.49, which suggests the last value was 9.26% up since then. When we look at Bakkt Holdings Inc’s average trading volume, we note the 10-day average is 5.89 million shares, with the 3-month average coming to 6.19 million.
Bakkt Holdings Inc (NYSE:BKKT) trade information
Instantly BKKT was in red as seen at the end of in last trading. With action -7.71%, the performance over the past five days has been red. The drop to weekly highs of 0.6300 subtracted -2.64% to the stock’s daily price. The company’s shares are showing year-to-date downside of -75.86%, with the 5-day performance at -7.71% in the red. However, in the 30-day time frame, Bakkt Holdings Inc (NYSE:BKKT) is -39.36% down. Looking at the short shares, we see there were 20.53 million shares sold at short interest cover period of 3.47 days.
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 -53.59% over the past 6 months, a 91.99% in annual growth rate that is considerably higher than the industry average of 18.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Bakkt Holdings Inc will rise 89.50%, while the growth in revenue is estimated to hit 52.90% for the next quarter. Year-over-year growth is forecast to reach 5.50% 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 $15.25 million. 2 analysts are of the opinion that Bakkt Holdings Inc’s revenue for the quarter ending Mar 2024 will be $17.1 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 -2.20%. The estimates for the next quarter sales put growth at 31.50%.
The 2024 estimates are for Bakkt Holdings Inc earnings to increase by 88.92%.
BKKT Dividends
Bakkt Holdings Inc is expected to release its next quarterly earnings report on March 25.
Bakkt Holdings Inc (NYSE:BKKT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 11.61% of Bakkt Holdings Inc shares while 21.51% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 24.33%. There are 21.51% 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.
