Bakkt (NYSE:BKKT) Trading 3.4% Higher – Time to Buy?

Bakkt Holdings, Inc. (NYSE:BKKT)’s stock price was up 3.4% during mid-day trading on Friday . The company traded as high as $27.91 and last traded at $27.56. Approximately 648,949 shares changed hands during trading, an increase of 61% from the average daily volume of 403,300 shares. The stock had previously closed at $26.66.

Bakkt Trading Up 3.4 %

The stock has a market cap of $376.77 million, a price-to-earnings ratio of -2.25 and a beta of 5.49. The firm’s 50-day moving average is $19.16 and its two-hundred day moving average is $16.46.

Institutional Investors Weigh In On Bakkt

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in Bakkt during the third quarter worth about $2,020,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Bakkt during the 2nd quarter valued at approximately $132,000. Point72 DIFC Ltd acquired a new position in Bakkt in the second quarter valued at approximately $118,000. Summit Securities Group LLC purchased a new position in Bakkt in the second quarter worth approximately $75,000. Finally, Barclays PLC acquired a new stake in Bakkt during the third quarter worth $28,000. 11.11% of the stock is currently owned by hedge funds and other institutional investors.

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.