Bakkt Holdings, Inc. (NYSE:BKKT – Get Free Report) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 745,800 shares, a decrease of 18.1% from the August 31st total of 911,000 shares. Based on an average daily volume of 144,400 shares, the short-interest ratio is presently 5.2 days. Approximately 12.9% of the company’s stock are short sold.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKKT. Walled Lake Planning & Wealth Management LLC purchased a new position in Bakkt in the fourth quarter valued at about $84,000. Quadrature Capital Ltd purchased a new stake in shares of Bakkt during the 4th quarter valued at approximately $89,000. HighPoint Advisor Group LLC purchased a new stake in shares of Bakkt during the 4th quarter valued at approximately $201,000. Van ECK Associates Corp lifted its stake in shares of Bakkt by 136.3% during the 1st quarter. Van ECK Associates Corp now owns 6,857,094 shares of the company’s stock valued at $3,153,000 after buying an additional 3,955,725 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Bakkt by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 3,722,829 shares of the company’s stock valued at $1,712,000 after buying an additional 313,227 shares in the last quarter. 11.11% of the stock is currently owned by hedge funds and other institutional investors.
Bakkt Stock Down 2.0 %
BKKT stock traded down $0.20 during trading on Friday, reaching $9.86. The stock had a trading volume of 131,685 shares, compared to its average volume of 244,831. Bakkt has a one year low of $5.57 and a one year high of $68.75. The company’s 50 day moving average is $13.70 and its two-hundred day moving average is $14.09. The company has a market capitalization of $133.31 million, a price-to-earnings ratio of -0.53 and a beta of 4.76.
Bakkt Company Profile
Bakkt Holdings, Inc offers software as a service and application programming interface solutions for crypto and loyalty, powering engagement, and performance. The company operates Bakkt Marketplace, a platform that enables consumers to buy, sell, and store crypto in an embedded web experience; Bakkt Crypto, a platform that supports clients with a range of crypto solutions; and Bakkt Trust, institutional-grade qualified custody solution for market participants.
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