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

Bakkt Holdings, Inc. (NYSE:BKKT) was the recipient of a large growth in short interest during 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. Based on an average daily volume of 119,300 shares, the short-interest ratio is presently 7.0 days. Approximately 14.4% of the shares of the stock are sold short.

Bakkt Trading Down 2.0 %

Shares of NYSE:BKKT traded down $0.23 on Thursday, hitting $11.50. The company had a trading volume of 8,879 shares, compared to its average volume of 234,124. The company has a market cap of $155.48 million, a PE ratio of -0.71 and a beta of 4.72. Bakkt has a 52-week low of $5.57 and a 52-week high of $68.75. The business has a 50 day moving average of $11.95 and a 200 day moving average of $13.81.

Bakkt (NYSE:BKKT) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($2.67) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($0.90). The business had revenue of $509.90 million during the quarter, compared to analyst estimates of $877.20 million. Bakkt had a negative net margin of 3.85% and a negative return on equity of 47.29%. During the same quarter last year, the firm posted ($4.75) earnings per share. As a group, equities analysts predict that Bakkt will post -6.47 EPS for the current year.

Institutional Trading of Bakkt

A number of institutional investors have recently added to or reduced their stakes in BKKT. Headlands Technologies LLC purchased a new position in Bakkt in the 2nd quarter valued at about $54,000. Summit Securities Group LLC purchased a new stake in Bakkt during the 2nd quarter worth approximately $75,000. Quadrature Capital Ltd acquired a new position in shares of Bakkt in the 4th quarter valued at approximately $89,000. Point72 DIFC Ltd purchased a new position in shares of Bakkt during the 2nd quarter valued at approximately $118,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Bakkt during the second quarter worth approximately $132,000. 11.11% of the stock is owned by hedge funds and other institutional investors.

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.