It’s Time To Focus On The Long Run With Bakkt Holdings Inc. (BKKT) stock

Bakkt Holdings Inc. (NYSE: BKKT) closed the day trading at $1.22 down -5.43% from the previous closing price of $1.29. In other words, the price has decreased by -$0.0700 from its previous closing price. On the day, 4893552 shares were traded. BKKT stock price reached its highest trading level at $1.4000 during the session, while it also had its lowest trading level at $1.1800.

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For a better understanding of BKKT, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.50 and its Current Ratio is at 2.50. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Wells Fargo on September 29, 2022, initiated with a Equal Weight rating and assigned the stock a target price of $2.50.

On July 19, 2022, Citigroup started tracking the stock assigning a Neutral rating and target price of $3.

On November 11, 2021, Jefferies started tracking the stock assigning a Hold rating and target price of $28.Jefferies initiated its Hold rating on November 11, 2021, with a $28 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 14 when VPC Impact Acquisition Holding sold 50,000 shares for $1.32 per share. The transaction valued at 66,000 led to the insider holds 7,573,540 shares of the business.

D’Annunzio Marc sold 20,511 shares of BKKT for $30,344 on Feb 13. The General Counsel & Secretary now owns 442,328 shares after completing the transaction at $1.48 per share. On Feb 13, another insider, Elliot Mark Sonbolian, who serves as the Chief Sales & Mktg Officer of the company, sold 4,382 shares for $1.48 each. As a result, the insider received 6,487 and left with 258,268 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 4.60 while its Price-to-Book (P/B) ratio in mrq is 0.50.

Stock Price History:

Over the past 52 weeks, BKKT has reached a high of $7.76, while it has fallen to a 52-week low of $1.08. The 50-Day Moving Average of the stock is 1.5682, while the 200-Day Moving Average is calculated to be 2.1298.

Shares Statistics:

Over the past 3-months, BKKT traded about 3.10M shares per day on average, while over the past 10 days, BKKT traded about 2.53M shares per day. A total of 76.59M shares are outstanding, with a floating share count of 60.65M. Insiders hold about 1.50% of the company’s shares, while institutions hold 30.80% stake in the company. Shares short for BKKT as of Jan 30, 2023 were 12.28M with a Short Ratio of 13.16M, compared to 12.4M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 15.63% and a Short% of Float of 17.74%.

Earnings Estimates

Current recommendations for the stock of the company come from 3 analysts. The consensus estimate for the next quarter is -$0.17, with high estimates of -$0.1 and low estimates of -$0.23.

Analysts are recommending an EPS of between -$6.48 and -$6.49 for the fiscal current year, implying an average EPS of -$6.49. EPS for the following year is -$0.63, with 3 analysts recommending between -$0.41 and -$0.95.

Revenue Estimates

3 analysts predict $15.88M in revenue for the current quarter. It ranges from a high estimate of $18.25M to a low estimate of $13M. As of the current estimate, Bakkt Holdings Inc.’s year-ago sales were $13.7M, an estimated increase of 15.90% from the year-ago figure. For the next quarter, 3 analysts are estimating revenue of $15.27M, an increase of 22.20% over than the figure of $15.90% in the same quarter last year. There is a high estimate of $16.91M for the next quarter, whereas the lowest estimate is $14M.

A total of 3 analysts have provided revenue estimates for BKKT’s current fiscal year. The highest revenue estimate was $57.25M, while the lowest revenue estimate was $52M, resulting in an average revenue estimate of $54.88M. In the same quarter a year ago, actual revenue was $39.5M, up 38.90% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $77.2M in the next fiscal year. The high estimate is $83M and the low estimate is $71.2M. The average revenue growth estimate for next year is up 40.70% from the average revenue estimate for this year.