Bakkt Holdings Inc [BKKT] attracts people because of its fundamentals

Bakkt Holdings Inc (NYSE:BKKT) shares traded 7.13% higher at $0.69 on Wall Street last session.

In accordance with the data, 3 analysts cover Bakkt Holdings Inc (NYSE:BKKT). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $2.10 and a low of $0.50, we find $1.50. Given the previous closing price of $0.64, this indicates a potential upside of 134.38 percent. BKKT stock price is now -39.23% away from the 50-day moving average and -50.22% away from the 200-day moving average. The market capitalization of the company currently stands at $62.76M.

It has been rated a hold by 1 analysts and a buy by 1. Brokers who have rated the stock have averaged $1.37 as their price target over the next twelve months.

With the price target of $2.50, Wells Fargo recently initiated with Equal Weight rating for Bakkt Holdings Inc (NYSE: BKKT).

In other news, VPC Impact Acquisition Holding, Director sold 600 shares of the company’s stock on Jul 19. The stock was sold for $1,110 at an average price of $1.85. Upon completion of the transaction, the Director now directly owns 4,603,069 shares in the company, valued at $3.18 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 17, Director VPC Impact Acquisition Holding sold 40,585 shares of the business’s stock. A total of $76,020 was realized by selling the stock at an average price of $1.87. This leaves the insider owning 4,603,669 shares of the company worth $3.18 million. Insiders disposed of 5,195,319 shares of company stock worth roughly $3.58 million over the past 1 year. A total of 20.01% of the company’s stock is owned by insiders.

During the past 12 months, Bakkt Holdings Inc has had a low of $0.64 and a high of $2.87. As of last week, the company has a debt-to-equity ratio of 0.52, a current ratio of 1.15, and a quick ratio of 1.15. The fifty day moving average price for BKKT is $1.1304 and a two-hundred day moving average price translates $1.3800 for the stock.

The latest earnings results from Bakkt Holdings Inc (NYSE: BKKT) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at -$0.19, beating analysts’ expectations of -$0.2 by 0.01. This compares to -$0.39 EPS in the same period last year. The net profit margin was -153.04% and return on equity was -171.88% for BKKT. The company reported revenue of $347.63 million for the quarter, compared to $14.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2376.87 percent. For the current quarter, analysts expect BKKT to generate $16.13M in revenue.

Bakkt Holdings Inc(BKKT) Company Profile

Bakkt Holdings, Inc. offers a platform for crypto and redeeming loyalty points. The company’s institutional-grade technology platform offers various solutions, such as Custody, an institutional-grade custody solution for market participants; Crypto Connect, a platform that enables consumers, businesses, and institutions to buy, sell, and store crypto in a digital experience; Crypto Rewards that focuses on enabling customers to earn crypto rewards, as well as redeem existing reward currencies into crypto; and Crypto Payouts for customers to automatically invest a portion of payments into crypto. Its platform also offers a range of loyalty solutions, including redemption solutions for various rewards categories comprising merchandise, gift cards, and digital experiences; travel solutions that offer a retail e-commerce booking platform, as well as live-agent booking and servicing; and unified shopping experience. The company was founded in 2018 and is headquartered in Alpharetta, Georgia.

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