Bakkt (BKKT) to Release Earnings on Tuesday

Bakkt (NYSE:BKKT) will announce its earnings results before the market opens on Tuesday, May 14th. Analysts expect the company to announce earnings of ($2.25) per share for the quarter. Bakkt has set its FY 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Bakkt (NYSE:BKKT) last posted its earnings results on Monday, March 25th. The company reported ($7.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.75) by ($4.50). The company had revenue of $214.50 million during the quarter, compared to the consensus estimate of $214.00 million. Bakkt had a negative net margin of 9.59% and a negative return on equity of 33.06%. On average, analysts expect Bakkt to post $-8 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

Bakkt Stock Up 5.2 %

Shares of NYSE:BKKT opened at $6.94 on Tuesday. Bakkt has a fifty-two week low of $5.57 and a fifty-two week high of $68.75. The company has a market cap of $89.32 million, a PE ratio of -0.31 and a beta of 4.23. The company’s 50-day moving average price is $12.18 and its 200 day moving average price is $27.43.

Analyst Upgrades and Downgrades

BKKT has been the topic of several analyst reports. Citigroup lowered their target price on Bakkt from $12.50 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, March 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $18.75 price objective on shares of Bakkt in a report on Tuesday, March 26th.

Insiders Place Their Bets

In other Bakkt news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was bought at an average cost of $0.87 per share, with a total value of $305,265.60. Following the acquisition, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of Bakkt stock in a transaction dated Thursday, April 25th. The stock was acquired at an average cost of $0.87 per share, with a total value of $305,265.60. Following the purchase, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Marc D’annunzio sold 2,009 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $22.00, for a total transaction of $44,198.00. Following the completion of the sale, the general counsel now owns 22,665 shares of the company’s stock, valued at approximately $498,630. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by insiders.

About Bakkt

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.