Bakkt (BKKT) Set to Announce Earnings on Tuesday

Bakkt (NYSE:BKKT - Get Free Report) is set to 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.Individual that wish to register for the company's earnings conference call can do so using this link.

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

Bakkt Stock Performance

Shares of NYSE:BKKT traded up $0.69 during midday trading on Tuesday, hitting $7.29. The company's stock had a trading volume of 278,147 shares, compared to its average volume of 251,096. Bakkt has a 12-month low of $5.57 and a 12-month high of $68.75. The company has a market cap of $93.82 million, a P/E ratio of -0.33 and a beta of 4.23. The business's 50 day simple moving average is $12.18 and its 200 day simple moving average is $27.43.

Analyst Upgrades and Downgrades

BKKT has been the topic of a number of analyst reports. Citigroup reduced their price objective 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 reissued a "buy" rating and issued a $18.75 price objective on shares of Bakkt in a report on Tuesday, March 26th.

Insider Buying and Selling

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

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.