Bakkt (NYSE:BKKT) Announces Quarterly Earnings Results

Key Points

• Bakkt reported a quarterly loss of ($2.16) earnings per share, with a negative return on equity of 88.55% and a negative net margin of 0.83%.
• Following the earnings announcement, Bakkt's stock price fell by $0.95, reaching $9.86 with significant trading volume of 2,484,566 shares.
• Insider trading activity included CEO Andrew A. Main selling 14,440 shares valued at approximately $262,952, indicating a 3.23% decrease in his ownership stake.

Bakkt (NYSE:BKKT - Get Free Report) released its quarterly earnings results on Monday. The company reported ($2.16) earnings per share (EPS) for the quarter, Zacks reports. Bakkt had a negative return on equity of 88.55% and a negative net margin of 0.83%.

Bakkt Stock Performance

Shares of NYSE BKKT traded down $0.95 during mid-day trading on Monday, hitting $9.86. The stock had a trading volume of 2,484,566 shares, compared to its average volume of 611,532. The company has a 50 day moving average of $15.15 and a two-hundred day moving average of $13.15. Bakkt has a twelve month low of $6.81 and a twelve month high of $37.21. The firm has a market cap of $137.13 million, a PE ratio of -2.00 and a beta of 5.31.

Insider Activity

In related news, CEO Andrew A. Main sold 14,440 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $18.21, for a total transaction of $262,952.40. Following the completion of the transaction, the chief executive officer directly owned 431,963 shares in the company, valued at $7,866,046.23. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Marc D'annunzio sold 10,000 shares of Bakkt stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $14.21, for a total transaction of $142,100.00. Following the completion of the transaction, the general counsel directly owned 69,807 shares of the company's stock, valued at $991,957.47. The trade was a 12.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,869 shares of company stock valued at $948,070. Company insiders own 2.50% of the company's stock.

Institutional Trading of Bakkt

A number of institutional investors and hedge funds have recently modified their holdings of BKKT. Cetera Investment Advisers purchased a new stake in shares of Bakkt during the second quarter worth $153,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Bakkt by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,734 shares of the company's stock worth $821,000 after buying an additional 10,018 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Bakkt by 33.1% during the second quarter. Geode Capital Management LLC now owns 247,177 shares of the company's stock worth $3,448,000 after buying an additional 61,408 shares in the last quarter. 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.

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