Stock Traders Purchase High Volume of Bakkt Call Options (NYSE:BKKT)

Bakkt Holdings, Inc. (NYSE:BKKT) was the target of some unusual options trading on Tuesday. Investors purchased 3,026 call options on the stock. This is an increase of approximately 1,233% compared to the average volume of 227 call options.

Bakkt Trading Up 14.4 %

Shares of NYSE:BKKT traded up $4.29 on Tuesday, reaching $34.00. The company had a trading volume of 6,816,102 shares, compared to its average volume of 300,462. The firm has a market capitalization of $459.68 million, a PE ratio of -2.78 and a beta of 4.71. Bakkt has a 52-week low of $5.57 and a 52-week high of $68.75. The firm’s 50 day simple moving average is $10.97 and its 200-day simple moving average is $14.11.

Hedge Funds Weigh In On Bakkt

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in Bakkt during the 3rd quarter valued at about $28,000. International Assets Investment Management LLC purchased a new position in shares of Bakkt in the 3rd quarter valued at about $2,020,000. Point72 DIFC Ltd purchased a new position in Bakkt during the second quarter worth approximately $118,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Bakkt in the second quarter valued at about $132,000. Finally, Headlands Technologies LLC purchased a new stake in Bakkt during the 2nd quarter worth approximately $54,000. 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.