Bakkt (NYSE:BKKT) Stock Price Down 6.1% After Analyst Downgrade

Bakkt Holdings Inc (NYSE:BKKT) shares were down 6.1% during mid-day trading on Thursday after Jefferies Financial Group lowered their price target on the stock from $13.50 to $7.00. Jefferies Financial Group currently has a hold rating on the stock. Bakkt traded as low as $5.60 and last traded at $5.68. Approximately 36,489 shares changed hands during trading, a decline of 100% from the average daily volume of 7,463,560 shares. The stock had previously closed at $6.05.

Separately, Zacks Investment Research cut Bakkt from a “hold” rating to a “sell” rating in a research note on Tuesday.

In other Bakkt news, Director Impact Acquisition Holding Vpc sold 14,115 shares of the firm’s stock in a transaction that occurred on Thursday, December 23rd. The stock was sold at an average price of $10.14, for a total value of $143,126.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

A hedge fund recently bought a new stake in Bakkt stock. Exchange Traded Concepts LLC purchased a new position in shares of Bakkt Holdings Inc (NYSE:BKKT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 472,568 shares of the company’s stock, valued at approximately $4,022,000. Exchange Traded Concepts LLC owned 0.18% of Bakkt at the end of the most recent quarter. 62.56% of the stock is currently owned by institutional investors and hedge funds.

The stock has a fifty day simple moving average of $14.00.

Bakkt Company Profile (NYSE:BKKT)

VPC Impact Acquisition Holdings is a blank check company. It formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. VPC Impact Acquisition Holdings is based in Chicago, Illinois.

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