Renaissance Technologies LLC Has $965,000 Stake in Bakkt Holdings, Inc. (NYSE:BKKT)

Renaissance Technologies LLC lowered its holdings in shares of Bakkt Holdings, Inc. (NYSE:BKKT - Free Report) by 97.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,025 shares of the company's stock after selling 2,384,659 shares during the period. Renaissance Technologies LLC owned about 0.38% of Bakkt worth $965,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Bakkt by 9.2% in the first quarter. Vanguard Group Inc. now owns 3,722,829 shares of the company's stock valued at $1,712,000 after buying an additional 313,227 shares in the last quarter. Headlands Technologies LLC bought a new stake in Bakkt during the 2nd quarter worth $54,000. Summit Securities Group LLC bought a new stake in Bakkt during the 2nd quarter worth $75,000. Van ECK Associates Corp increased its holdings in Bakkt by 136.3% in the 1st quarter. Van ECK Associates Corp now owns 6,857,094 shares of the company's stock worth $3,153,000 after purchasing an additional 3,955,725 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Bakkt in the fourth quarter valued at about $89,000. 11.11% of the stock is currently owned by institutional investors.

Bakkt Stock Down 0.5 %

Shares of BKKT stock traded down $0.05 during mid-day trading on Monday, reaching $9.81. 154,290 shares of the stock traded hands, compared to its average volume of 240,168. The company has a market cap of $131.72 million, a price-to-earnings ratio of -0.53 and a beta of 4.72. The stock's fifty day simple moving average is $12.77 and its two-hundred day simple moving average is $13.93. Bakkt Holdings, Inc. has a 1-year low of $5.57 and a 1-year high of $68.75.

Bakkt (NYSE:BKKT - Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported ($2.67) EPS 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 business had revenue of $509.90 million for the quarter, compared to analyst estimates of $877.20 million. During the same quarter in the prior year, the business earned ($4.75) earnings per share. On average, equities research analysts anticipate that Bakkt Holdings, Inc. will post -6.47 EPS for the current fiscal year.

Bakkt 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.