Bakkt Holdings, Inc. (NYSE:BKKT – Get Free Report) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 832,700 shares, a growth of 11.7% from the September 15th total of 745,800 shares. Approximately 14.4% of the company’s shares are short sold. Based on an average daily volume of 119,300 shares, the days-to-cover ratio is currently 7.0 days.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in BKKT. Vanguard Group Inc. boosted its holdings in shares of Bakkt by 9.2% in 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. Headlands Technologies LLC purchased a new position in shares of Bakkt during the second quarter worth about $54,000. Cubist Systematic Strategies LLC purchased a new stake in Bakkt in the 2nd quarter valued at $132,000. Point72 DIFC Ltd acquired a new stake in Bakkt during the 2nd quarter worth $118,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Bakkt in the second quarter valued at about $75,000. Hedge funds and other institutional investors own 11.11% of the company’s stock.
Bakkt Trading Down 2.0 %
Bakkt stock traded down $0.23 during trading on Thursday, hitting $11.50. The company had a trading volume of 8,879 shares, compared to its average volume of 234,124. The company’s 50 day simple moving average is $11.95 and its 200-day simple moving average is $13.81. Bakkt has a 1-year low of $5.57 and a 1-year high of $68.75. The stock has a market cap of $155.48 million, a price-to-earnings ratio of -0.71 and a beta of 4.72.
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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