Bakkt (BKKT) Scheduled to Post Earnings on Thursday

Bakkt (NYSE:BKKT – Get Rating) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, August 11th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Bakkt (NYSE:BKKT – Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.60 million. On average, analysts expect Bakkt to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Bakkt Price Performance

BKKT stock opened at $3.04 on Thursday. Bakkt has a 12-month low of $1.98 and a 12-month high of $50.80. The stock’s 50 day simple moving average is $2.54 and its 200 day simple moving average is $4.07.

Insider Activity

In other Bakkt news, Director Impact Acquisition Holding Vpc sold 16,000 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $2.73, for a total value of $43,680.00. Following the transaction, the director now directly owns 8,320,190 shares of the company’s stock, valued at approximately $22,714,118.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BKKT. Vanguard Group Inc. grew its holdings in Bakkt by 67.3% in the 1st quarter. Vanguard Group Inc. now owns 2,158,040 shares of the company’s stock valued at $13,294,000 after buying an additional 868,031 shares during the last quarter. BlackRock Inc. lifted its position in shares of Bakkt by 35.9% in the 1st quarter. BlackRock Inc. now owns 545,794 shares of the company’s stock worth $3,362,000 after acquiring an additional 144,218 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Bakkt by 14.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 168,112 shares of the company’s stock worth $1,036,000 after acquiring an additional 21,786 shares during the period. State Street Corp lifted its position in shares of Bakkt by 494.2% in the 1st quarter. State Street Corp now owns 112,309 shares of the company’s stock worth $692,000 after acquiring an additional 93,409 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of Bakkt in the 1st quarter worth approximately $599,000. Institutional investors and hedge funds own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup initiated coverage on Bakkt in a research note on Tuesday, July 19th. They set a “neutral” rating and a $3.00 price objective for the company.

Bakkt Company Profile

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Bakkt Holdings, Inc operates a digital asset platform. The company's platform enables consumers to buy, sell, convert, and spend digital assets. Its customers include merchants, retailers, and financial institutions. Bakkt Holdings, Inc has a strategic alliance with the Global Payments to collaborate on use cases starting with enabling cryptocurrency redemption in customer loyalty programs offered by bankcard clients, as well as expanding its banking-as-a-service offerings to include consumer access to cryptocurrency.