Bakkt (NYSE:BKKT) Trading 3.4% Higher – Here’s Why

Bakkt Holdings, Inc. (NYSE:BKKT)’s stock price rose 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 were traded during trading, an increase of 61% from the average daily volume of 403,300 shares. The stock had previously closed at $26.66.

Bakkt Stock Up 3.4 %

The company has a fifty day simple moving average of $19.16 and a 200 day simple moving average of $16.46. The firm has a market capitalization of $376.77 million, a P/E ratio of -2.25 and a beta of 5.49.

Institutional Trading of Bakkt

Institutional investors have recently bought and sold shares of the company. Barclays PLC purchased a new stake in shares of Bakkt during the third quarter valued at approximately $28,000. Headlands Technologies LLC purchased a new stake in Bakkt during the 2nd quarter valued at $54,000. Summit Securities Group LLC bought a new stake in shares of Bakkt in the 2nd quarter worth $75,000. Point72 DIFC Ltd purchased a new position in shares of Bakkt in the second quarter worth $118,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Bakkt during the second quarter valued at $132,000. 11.11% of the stock is owned by hedge funds and other institutional investors.

About Bakkt

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.