Market cap of Bakkt Holdings Inc. [BKKT] reaches 449.22M – now what?

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Bakkt Holdings Inc. [NYSE: BKKT] surged by $2.39 during the normal trading session on Friday and reaching a high of $22.40 during the day while it closed the day at $19.72. The company report on November 12, 2021 that Bakkt Reports Third Quarter 2021 Results.

Bakkt Holdings, Inc. (“Bakkt”) (NYSE: BKKT), a trusted digital asset platform that enables consumers, businesses, and institutions to buy, sell, spend, send and redeem digital assets, announced its financial results for the third quarter ended September 30, 2021.

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“Bakkt has made tremendous strides in proving our model, building strategic partnerships and enhancing our platform capabilities to connect the digital economy,” said Gavin Michael, CEO of Bakkt. “As we move forward, we will invest the proceeds from our recent business combination to activate our partnerships, further deploying our capabilities with consumers, businesses and institutions.”.

Bakkt Holdings Inc. stock has also loss -18.75% of its value over the past 7 days. However, BKKT stock has inclined by 99.60% in the 3 months of the year. Over the past six months meanwhile, it has gained 92.95% and gained 95.63% year-on date.

The market cap for BKKT stock reached $449.22 million, with 25.92 million shares outstanding. Compared to the average trading volume of 10.99M shares, BKKT reached a trading volume of 20019661 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Bakkt Holdings Inc. [BKKT]:

Jefferies have made an estimate for Bakkt Holdings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 11, 2021.

The Average True Range (ATR) for Bakkt Holdings Inc. is set at 4.87, with the Price to Sales ratio for BKKT stock in the period of the last 12 months amounting to 13.74. The Price to Book ratio for the last quarter was 3.10, with the Price to Cash per share for the same quarter was set at 0.03.

BKKT stock trade performance evaluation

Bakkt Holdings Inc. [BKKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.75. With this latest performance, BKKT shares gained by 145.58% in over the last four-week period, additionally plugging by 92.95% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BKKT stock in for the last two-week period is set at 46.42, with the RSI for the last a single of trading hit 41.45, and the three-weeks RSI is set at 49.27 for Bakkt Holdings Inc. [BKKT]. The present Moving Average for the last 50 days of trading for this stock 16.94, while it was recorded at 19.35 for the last single week of trading, and 13.02 for the last 200 days.

Bakkt Holdings Inc. [BKKT]: An insightful look at the core fundamentals

Bakkt Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

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Bakkt Holdings Inc. [BKKT]: Insider Ownership positions

There are presently around $255 million, or 73.20% of BKKT stock, in the hands of institutional investors. The top three institutional holders of BKKT stocks are: INVESCO LTD. with ownership of 3,493,439, which is approximately -3.003% of the company’s market cap and around 24.90% of the total institutional ownership; AZORA CAPITAL LP, holding 1,732,577 shares of the stock with an approximate value of $34.17 million in BKKT stocks shares; and TOROSO INVESTMENTS, LLC, currently with $24.08 million in BKKT stock with ownership of nearly 3.199% of the company’s market capitalization.

35 institutional holders increased their position in Bakkt Holdings Inc. [NYSE:BKKT] by around 5,395,716 shares. Additionally, 30 investors decreased positions by around 6,282,754 shares, while 8 investors held positions by with 1,265,339 shares. The mentioned changes placed institutional holdings at 12,943,809 shares, according to the latest SEC report filing. BKKT stock had 18 new institutional investments in for a total of 3,804,836 shares, while 17 institutional investors sold positions of 2,419,464 shares during the same period.