Bakkt Holdings, Inc. (NYSE:BKKT – Get Rating) saw some unusual options trading on Thursday. Stock traders purchased 42,290 call options on the stock. This is an increase of 949% compared to the typical volume of 4,030 call options.
Bakkt Price Performance
NYSE:BKKT opened at $1.78 on Friday. Bakkt has a 52-week low of $1.13 and a 52-week high of $9.01. The stock has a fifty day moving average of $1.60 and a 200 day moving average of $2.16.
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Bakkt (NYSE:BKKT – Get Rating) last posted its quarterly earnings data on Thursday, November 10th. The company reported $14.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $14.28. The company had revenue of $12.90 million during the quarter, compared to analyst estimates of $14.60 million. Bakkt had a positive return on equity of 45.35% and a negative net margin of 1,087.57%. Equities analysts predict that Bakkt will post 13.58 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
BKKT has been the topic of several recent research reports. Rosenblatt Securities initiated coverage on Bakkt in a research report on Tuesday, November 29th. They set a "buy" rating and a $2.20 target price on the stock. Wells Fargo & Company dropped their target price on Bakkt from $2.50 to $2.00 and set an "equal weight" rating on the stock in a research report on Monday, January 9th.
Insider Activity
In other news, Director Impact Acquisition Holding Vpc sold 100,000 shares of the company's stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $2.06, for a total value of $206,000.00. Following the completion of the transaction, the director now directly owns 7,623,540 shares of the company's stock, valued at $15,704,492.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Bakkt news, insider Mark Sonbolian Elliot sold 16,500 shares of the stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $1.69, for a total transaction of $27,885.00. Following the completion of the transaction, the insider now directly owns 303,914 shares of the company's stock, valued at $513,614.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Impact Acquisition Holding Vpc sold 100,000 shares of the stock in a transaction on Friday, January 13th. The shares were sold at an average price of $2.06, for a total value of $206,000.00. Following the transaction, the director now directly owns 7,623,540 shares of the company's stock, valued at $15,704,492.40. The disclosure for this sale can be found here. Insiders sold a total of 186,140 shares of company stock valued at $357,844 over the last three months. Corporate insiders own 1.70% of the company's stock.
Institutional Investors Weigh In On Bakkt
Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in Bakkt by 24.2% in the 1st quarter. International Assets Investment Management LLC now owns 18,750 shares of the company's stock worth $116,000 after purchasing an additional 3,650 shares during the period. Captrust Financial Advisors lifted its position in Bakkt by 320.5% in the first quarter. Captrust Financial Advisors now owns 6,560 shares of the company's stock valued at $40,000 after purchasing an additional 5,000 shares during the last quarter. Guild Investment Management Inc. lifted its position in Bakkt by 5.2% in the second quarter. Guild Investment Management Inc. now owns 131,110 shares of the company's stock valued at $340,000 after purchasing an additional 6,500 shares during the last quarter. Bank of Montreal Can bought a new stake in Bakkt in the first quarter valued at approximately $66,000. Finally, Cubist Systematic Strategies LLC lifted its position in Bakkt by 89.1% in the third quarter. Cubist Systematic Strategies LLC now owns 21,600 shares of the company's stock valued at $49,000 after purchasing an additional 10,177 shares during the last quarter. Institutional investors own 8.39% of the company's stock.
Bakkt Company Profile
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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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