Short Interest in Bakkt Holdings, Inc. (NYSE:BKKT) Expands By 11.7%

Bakkt Holdings, Inc. (NYSE:BKKT) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 832,700 shares, a growth of 11.7% from the September 15th total of 745,800 shares. Approximately 14.4% of the company’s shares are short sold. Based on an average daily volume of 119,300 shares, the short-interest ratio is currently 7.0 days.

Hedge Funds Weigh In On Bakkt

A number of hedge funds have recently added to or reduced their stakes in BKKT. Headlands Technologies LLC bought a new stake in Bakkt in the second quarter worth approximately $54,000. Summit Securities Group LLC acquired a new stake in shares of Bakkt in the 2nd quarter valued at $75,000. Point72 DIFC Ltd acquired a new position in Bakkt during the second quarter worth $118,000. Cubist Systematic Strategies LLC acquired a new position in Bakkt during the second quarter worth $132,000. Finally, Quadrature Capital Ltd bought a new position in Bakkt during the fourth quarter valued at about $89,000. Institutional investors and hedge funds own 11.11% of the company’s stock.

Bakkt Trading Down 0.8 %

NYSE BKKT traded down $0.09 during trading on Thursday, reaching $11.64. 30,685 shares of the company’s stock were exchanged, compared to its average volume of 234,232. The company’s fifty day simple moving average is $11.95 and its 200-day simple moving average is $13.81. The firm has a market capitalization of $157.37 million, a PE ratio of -0.71 and a beta of 4.72. Bakkt has a fifty-two week low of $5.57 and a fifty-two week high of $68.75.

Bakkt (NYSE:BKKT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($2.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.77) by ($0.90). Bakkt had a negative net margin of 3.85% and a negative return on equity of 47.29%. The firm had revenue of $509.90 million for the quarter, compared to analyst estimates of $877.20 million. During the same period in the previous year, the business posted ($4.75) EPS. Equities analysts forecast that Bakkt will post -6.47 EPS for the current fiscal year.

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.