Bakkt Holdings Inc (NYSE:BKKT) shares, rose in value, with the stock price up by 10.79% to the previous day’s close as strong demand from buyers drove the stock to $0.47.
Actively observing the price movement in the last trading, the stock closed the session at $0.42. The value of beta (5-year monthly) was 4.04. Referring to stock’s 52-week performance, its high was $2.75, and the low was $0.41. On the whole, BKKT has fluctuated by -25.19% over the past month.
With the market capitalization of Bakkt Holdings Inc currently standing at about $62.35 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 20, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.08, which is expected to increase to -$0.06 for fiscal year -$0.28 and then to about -$0.19 by fiscal year 2025. Data indicates that the EPS growth is expected to be 66.70% in 2025, while the next year’s EPS growth is forecast to be 32.10%.
Analysts have estimated the company’s revenue for the quarter at $17.9 million, with a low estimate of $16.7 million and a high estimate of $18.8 million. According to the average forecast, sales growth in current quarter could jump up 37.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $80.15 million, representing a decrease of -89.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that BKKT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BKKT currently trading nearly -14.28% and -47.32% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.28, while the 7-day volatility ratio is showing 12.25% which for the 30-day chart, stands at 11.61%. Furthermore, Bakkt Holdings Inc (BKKT)’s beta value is 3.97, and its average true range (ATR) is 0.08.
A comparison of Bakkt Holdings Inc (BKKT) with its peers suggests the former has fared considerably weaker in the market. BKKT showed an intraday change of 10.79% in last session, and over the past year, it shrunk by -72.95%%.
Data on historical trading for Bakkt Holdings Inc (NYSE:BKKT) indicates that the trading volumes over the past 10 days have averaged 9.07 million and over the past 3 months, they’ve averaged 6.19 million. According to company’s latest data on outstanding shares, there are 134.00 million shares outstanding.
Nearly 19.30% of Bakkt Holdings Inc’s shares belong to company insiders and institutional investors own 23.47% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 18.66 million shares as on Mar 15, 2024, resulting in a short ratio of 2.49. According to the data, the short interest in Bakkt Holdings Inc (BKKT) stood at 13.93% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 19.12 million. The stock has fallen by -79.13% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BKKT stock heading into the next quarter.
