Headlands Technologies LLC Makes New Investment in Bakkt Holdings, Inc. (NYSE:BKKT)

Headlands Technologies LLC purchased a new position in shares of Bakkt Holdings, Inc. (NYSE:BKKT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,846 shares of the company’s stock, valued at approximately $54,000.

Several other large investors also recently added to or reduced their stakes in BKKT. Summit Securities Group LLC purchased a new stake in Bakkt during the 2nd quarter worth about $75,000. Walled Lake Planning & Wealth Management LLC bought a new position in Bakkt in the 4th quarter valued at $84,000. Quadrature Capital Ltd purchased a new position in shares of Bakkt during the 4th quarter valued at $89,000. Chesapeake Capital Corp IL bought a new position in shares of Bakkt in the fourth quarter worth $90,000. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of Bakkt in the fourth quarter worth $201,000. Hedge funds and other institutional investors own 11.11% of the company’s stock.

Bakkt Stock Down 4.1 %

Bakkt stock opened at $10.68 on Tuesday. The stock has a market cap of $143.40 million, a price-to-earnings ratio of -0.57 and a beta of 4.76. The business has a 50-day simple moving average of $15.39 and a 200 day simple moving average of $14.38. Bakkt Holdings, Inc. has a 52 week low of $5.57 and a 52 week high of $68.75.

Bakkt (NYSE:BKKT) last posted its quarterly earnings data 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). Bakkt had a negative return on equity of 47.29% and a negative net margin of 3.85%. The company had revenue of $509.90 million during the quarter, compared to the consensus estimate of $877.20 million. During the same quarter last year, the company posted ($4.75) earnings per share. On average, research analysts anticipate that Bakkt Holdings, Inc. will post -6.47 earnings per share for the current year.

About Bakkt

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.