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Bakkt Holdings Inc (BKKT) rating initates by Wells Fargo

Bakkt Holdings Inc’s filing revealed that its 10% Owner Intercontinental Exchange, Inc acquired Company’s shares for reported $0.3 million on Apr 25 ’24. In the deal valued at $0.87 per share,350,880 shares were bought. As a result of this transaction, Intercontinental Exchange, Inc now holds 649,934 shares worth roughly $6.4 million.

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Then, Intercontinental Exchange, Inc bought 2,762,009 shares, generating $2,394,662 in total proceeds. Upon buying the shares at $0.87, the 10% Owner now owns 7,476,345 shares.

Before that, D’Annunzio Marc sold 50,247 shares. Bakkt Holdings Inc shares valued at $44,047 were divested by the General Counsel & Secretary at a price of $0.88 per share. As a result of the transaction, D’Annunzio Marc now holds 566,630 shares, worth roughly $5.58 million.

Wells Fargo initiated its Bakkt Holdings Inc [BKKT] rating to an Equal weight in a research note published on September 29, 2022; the price target was $2.50. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in mid July with a ‘”a Neutral”‘ rating. Jefferies began covering BKKT with “Hold” recommendation on November 11, 2021.

Price Performance Review of BKKT

On Friday, Bakkt Holdings Inc [NYSE:BKKT] saw its stock fall -4.00% to $9.84. Over the last five days, the stock has gained 51.38%. Bakkt Holdings Inc shares have fallen nearly -82.35% since the year began. Nevertheless, the stocks have fallen -71.27% over the past one year. While a 52-week high of $68.75 was reached on 01/02/24, a 52-week low of $5.57 was recorded on 05/01/24. SMA at 50 days reached $11.59, while 200 days put it at $28.29. A total of 0.6 million shares were traded, compared to the trading of 1.38 million shares in the previous session.

Levels Of Support And Resistance For BKKT Stock

The 24-hour chart illustrates a support level at 9.01, which if violated will result in even more drops to 8.18. On the upside, there is a resistance level at 10.51. A further resistance level may holdings at 11.18. The Relative Strength Index (RSI) on the 14-day chart is 49.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.29, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 27.02%. Stochastics %K at 71.54% indicates the stock is a holding.

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