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

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

Bakkt Price Performance

The company’s 50 day simple moving average is $19.16 and its two-hundred day simple moving average is $16.46. The company has a market cap of $376.77 million, a PE ratio of -2.25 and a beta of 5.49.

Institutional Investors Weigh In On Bakkt

Several institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Bakkt in the third quarter worth $2,020,000. Cubist Systematic Strategies LLC purchased a new position in Bakkt in the second quarter valued at $132,000. Point72 DIFC Ltd acquired a new position in Bakkt during the 2nd quarter worth $118,000. Summit Securities Group LLC purchased a new stake in Bakkt during the 2nd quarter worth about $75,000. Finally, Barclays PLC acquired a new stake in Bakkt in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 11.11% of the company’s stock.

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.