Bakkt (NYSE:BKKT) Sees Unusually-High Trading Volume

Bakkt Holdings, Inc. (NYSE:BKKTGet Rating) saw unusually-high trading volume on Thursday . Approximately 133,984 shares changed hands during trading, a decline of 95% from the previous session’s volume of 2,517,244 shares.The stock last traded at $3.47 and had previously closed at $3.04.

Wall Street Analyst Weigh In

Separately, Citigroup initiated coverage on shares of Bakkt in a research report on Tuesday, July 19th. They set a “neutral” rating and a $3.00 price objective on the stock.

Bakkt Price Performance

The business’s 50-day moving average is $2.56 and its 200 day moving average is $4.04.

Bakkt (NYSE:BKKTGet Rating) last issued its earnings results on Thursday, May 12th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The business had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $13.60 million. As a group, analysts forecast that Bakkt Holdings, Inc. will post -0.71 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Impact Acquisition Holding Vpc sold 16,000 shares of Bakkt stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $2.73, for a total value of $43,680.00. Following the transaction, the director now owns 8,320,190 shares in the company, valued at approximately $22,714,118.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bakkt

A number of hedge funds have recently modified their holdings of BKKT. International Assets Investment Management LLC bought a new stake in shares of Bakkt during the 4th quarter valued at about $129,000. Commonwealth Equity Services LLC bought a new stake in shares of Bakkt during the 4th quarter valued at about $132,000. Advisor Group Holdings Inc. bought a new stake in shares of Bakkt during the 4th quarter valued at about $92,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Bakkt during the 4th quarter valued at about $328,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Bakkt during the 4th quarter valued at about $6,808,000. Hedge funds and other institutional investors own 7.20% of the company’s stock.

Bakkt Company Profile

(Get Rating)

Bakkt Holdings, Inc operates a digital asset platform. The company's platform enables consumers to buy, sell, convert, and spend digital assets. Its customers include merchants, retailers, and financial institutions. Bakkt Holdings, Inc has a strategic alliance with the Global Payments to collaborate on use cases starting with enabling cryptocurrency redemption in customer loyalty programs offered by bankcard clients, as well as expanding its banking-as-a-service offerings to include consumer access to cryptocurrency.

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