Bakkt (NYSE:BKKT) Releases Earnings Results, Misses Expectations By $0.90 EPS

Bakkt (NYSE:BKKT) released its quarterly earnings results on Wednesday. The company reported ($2.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($0.90), Zacks reports. The company had revenue of $509.90 million during the quarter, compared to analyst estimates of $877.20 million. Bakkt had a negative net margin of 4.26% and a negative return on equity of 37.42%. During the same quarter last year, the business earned ($4.75) EPS. Bakkt updated its FY 2024 guidance to EPS.

Bakkt Trading Up 12.4 %

Shares of BKKT traded up $1.50 during midday trading on Thursday, hitting $13.63. The stock had a trading volume of 193,572 shares, compared to its average volume of 274,262. Bakkt has a fifty-two week low of $5.57 and a fifty-two week high of $68.75. The business has a 50-day simple moving average of $17.75 and a two-hundred day simple moving average of $16.78. The firm has a market cap of $183.01 million, a P/E ratio of -0.75 and a beta of 4.80.

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.