Bakkt Target of Unusually Large Options Trading (NYSE:BKKT)

Bakkt Holdings, Inc. (NYSE:BKKT) saw unusually large options trading on Tuesday. Traders acquired 3,026 call options on the company. This is an increase of approximately 1,233% compared to the typical volume of 227 call options.

Bakkt Stock Performance

Shares of Bakkt stock opened at $31.60 on Thursday. Bakkt has a 52-week low of $5.57 and a 52-week high of $68.75. The firm has a 50-day moving average of $11.32 and a 200-day moving average of $14.27. The stock has a market cap of $427.14 million, a PE ratio of -2.76 and a beta of 4.71.

Institutional Investors Weigh In On Bakkt

A number of large investors have recently added to or reduced their stakes in BKKT. Barclays PLC bought a new stake in shares of Bakkt during the 3rd quarter valued at $28,000. Headlands Technologies LLC bought a new stake in shares of Bakkt during the second quarter worth $54,000. Summit Securities Group LLC acquired a new position in shares of Bakkt during the second quarter worth $75,000. Point72 DIFC Ltd acquired a new position in shares of Bakkt during the second quarter worth $118,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Bakkt in the 2nd quarter valued at $132,000. Institutional investors and hedge funds 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.