Bakkt Holdings, Inc. (NYSE:BKKT – Free Report) shares are scheduled to reverse split on Monday, April 29th. The 1-25 reverse split was announced on Tuesday, April 23rd. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, April 26th.
Bakkt Stock Down 10.1 %
Shares of BKKT opened at $0.36 on Thursday. The company’s fifty day moving average is $0.59 and its 200-day moving average is $1.15. Bakkt has a 12 month low of $0.33 and a 12 month high of $2.75. The firm has a market cap of $115.84 million, a price-to-earnings ratio of -0.43 and a beta of 4.12.
Bakkt (NYSE:BKKT – Get Free Report) last posted its earnings results on Monday, March 25th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). Bakkt had a negative net margin of 9.59% and a negative return on equity of 33.06%. The firm had revenue of $214.50 million during the quarter, compared to analyst estimates of $214.00 million. As a group, research analysts predict that Bakkt will post -0.32 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on BKKT
Insider Buying and Selling
In related news, General Counsel Marc D’annunzio sold 50,247 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $0.88, for a total transaction of $44,217.36. Following the completion of the sale, the general counsel now owns 566,630 shares in the company, valued at approximately $498,634.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Marc D’annunzio sold 50,247 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $0.88, for a total transaction of $44,217.36. Following the completion of the sale, the general counsel now owns 566,630 shares of the company’s stock, valued at approximately $498,634.40. The disclosure for this sale can be found here. 1.78% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Bakkt
Several institutional investors have recently modified their holdings of BKKT. PEAK6 Investments LLC acquired a new stake in shares of Bakkt during the 3rd quarter worth approximately $7,185,000. Van ECK Associates Corp grew its position in shares of Bakkt by 47.6% during the 4th quarter. Van ECK Associates Corp now owns 2,901,369 shares of the company’s stock worth $6,470,000 after buying an additional 935,567 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Bakkt by 47.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,928,052 shares of the company’s stock worth $4,300,000 after buying an additional 623,748 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Bakkt by 14.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,601,904 shares of the company’s stock worth $5,802,000 after buying an additional 332,936 shares during the period. Finally, Headlands Technologies LLC bought a new position in Bakkt during the 4th quarter worth approximately $508,000. 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.
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