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BKBKKT

Bakkt Holdings, Inc.

$BKKT·$252M·Software - Infrastructure·Technology
$5.59-5.3%YTD-43.5%1Y-85.7%
Price updated 12h ago·X counts updated 5d ago
BKBKKT
$BKKTBakkt Holdings, Inc.
$5.59-5.25%85 posts1×
AI analysisFundamentalsVoices on X
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On X

The complete picture of $BKKT on X — how loud the conversation is right now, how it has trended over the last two weeks, and which way the crowd is leaning.

85X posts · last 7 days
Sep 29Oct 11
Chatter Meter
1×
QuietNormal · 1×Loud

How loud $BKKT's conversation on X is versus its own normal — 1× is typical, higher means busier. Right now it's about its usual level.

Bullish sentimentAI analysisGenerated by AI from underlying data6 posts analyzed · as of 2026-09-12

Bakkt is bullish — raised 2026 Total Transacting Volume target to $3B (up from $2.5B, +20%) while several of the largest commercial opportunities are still in early activation. Q4 milestones: $2.5B TTV, adj EBITDA break-even, 25,000 MAUs; on-demand stablecoin off-ramping across 75 countries is the institutional-first foundation. Global commercial team expanding.

Read what X is saying about $BKKT

  • Bullish vs bearish call — with the AI summary of the day's posts
  • Divergence flag when the top-engagement posts argue the other side
  • How loud the conversation is versus this ticker's own normal
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AI verdictAI analysisGenerated by AI from underlying data

TickerTalks' own read on what's driving $BKKT — fundamentals, momentum, or an event — and whether it agrees with the X crowd.

Comeback attemptSelling offAI verdict · as of 2026-10-02

Falling on heavy selling — points lower unless it turns around.

Bakkt raised 2026 TTV target to $3B — the chart doesn't believe the turnaround until off-ramp activations convert.

Bakkt Holdings is an institutional digital-asset infrastructure provider — Bitcoin, tokenization, stablecoins, and on-demand off-ramping across 75 countries. The stock is at 2% of its 52-week range after a 77% TTM decline, with the recent 2026 TTV target raise as the specific pivot catalyst.

  • The P&L is in flux: revenue fell 77% YoY to $243.6M last quarter at a -7% operating margin — the YoY optics are distorted by prior-quarter crypto-trading-volume comps; the operating-margin trajectory is finally approaching break-even.
  • The 2026 TTV target raise from $2.5B to $3B (+20%) with Q4 adj EBITDA break-even milestone is the specific operational commitment — plus the global commercial team expansion and on-demand stablecoin off-ramping across 75 countries is a tangible pipeline-conversion signal.
  • Modest officer selling (Henderson $2.4K, D'Annunzio and Baes each $11K at $8.61) is operationally neutral — these are small tax-lot sales, not conviction trims.

Breaking-down holds unless Nov 9 earnings confirm TTV growth toward the $3B target and Q4 adj EBITDA approaches break-even. A soft TTV print, or any specific commentary that commercial-activation timing is slipping, is what seals the de-rating; a specific stablecoin issuer anchor-partnership announcement is what could restart the move toward the summer highs.

Agrees with X sentimentX bulls citing the 2026 $3B TTV target raise, Q4 adj EBITDA break-even, 25,000 MAUs, and on-demand stablecoin off-ramping across 75 countries have the specific operational commitments correct — the challenge is converting the pipeline to actual activations.

What to watch: Nov 9 earnings — Total Transacting Volume versus the $3B target, Q4 adj EBITDA break-even progress, MAU growth, and any new named stablecoin-issuer partnership. A TTV miss or activation-timing-slip is what seals the breaking-down.

On the calendar: 2026-11-09 — Q3 FY26 earnings

Read the AI verdict on $BKKT

  • One-line verdict on what's driving the move — fundamentals, momentum, both, or an event
  • Next dated catalyst when there is one (earnings, deal closing, activist clock)
  • Whether TickerTalks' read agrees with or diverges from the X crowd
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What it does

Plain-English summary of the business — what they sell and how they make money.

Operates a digital asset trading and custody platform enabling consumer and institutional Bitcoin and crypto transactions.

Industry overviewAI analysisGenerated by AI from underlying data

Where Software - Infrastructure sits in its cycle right now — and what that implies for $BKKT.

Software - Infrastructure · Technology

No material change from last week — AI infrastructure capex bifurcates the cohort — GPU-cloud providers and AI-native security platforms absorbing enterprise spend, while legacy SaaS faces multiple compression. GPU-cloud platforms and AI-native security tools absorb enterprise spend while legacy SaaS faces multiple compression.

What this means for $BKKT

Partial — Operates a digital asset trading and custody platform enabling consumer and institutional Bitcoin and crypto transactions.; AI infrastructure capex bifurcates the cohort; exposure depends on workload alignment with GPU-cloud and AI-native security architectures.

Top industry ETF

$IGViShares Expanded Tech-Software Sector ETF
+4.2%YTD
-7.5%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
-0.8How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
-67.9%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
-8.2%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
-18.5%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
0.2Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
-117%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
31.7%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
0.0Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q2 2026Aug 10, 2026$1.94$0.03+6366.7%
Q1 2026May 11, 2026$-0.41$-0.10-310.0%
Q4 2025Mar 16, 2026$-6.73$-0.55-1134.9%
Q3 2025Nov 10, 2025$1.20$-0.47+355.3%
Next earningsMon, Nov 9·consensus EPS $0.21

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q1 FY26$243.6M-77.3%-1.3%-6.9%$-0.87$-12.8M
Q4 FY25$299.2M-83.4%-16.1%-21.3%$-6.37$-7.1M
Q3 FY25$402.2M+22.5%-4.0%-6.3%$-2.19$-49.9M
Q2 FY25$577.9M+13.3%95.3%-3.2%$-2.16$5.3M

Forward consensus

3-year forecast · up to 1 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$1.3B$1.3B – $1.3B$1.97$1.97 – $1.971
FY27$4.1B$4.1B – $4.1B-$0.02-$0.02 – -$0.021
FY28$7.5B$7.5B – $7.5B$0.00$0.00 – $0.001

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.1.7×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.1%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.-24.0%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.-37.3%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatLow float · 35.9M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today6.2% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β6.075-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

SellSep 23Henderson Joseph Sean-walshChief Accounting Officer282 sh$2KSellSep 23Marc D'annunzioGeneral Counsel & Secretary1.3K sh$11KSellSep 23Nicholas BaesCOO1.3K sh$11KBuyAug 18Michael AlfredDirector296.6K sh$2.1MSellJul 15Marc D'annunzioGeneral Counsel & Secretary539 sh$5KSellJul 15Karen AlexanderCFO657 sh$6KSellJul 15Henderson Joseph Sean-walshChief Accounting Officer94 sh$783SellJun 26Marc D'annunzioGeneral Counsel & Secretary1.4K sh$10KSellJun 25Nicholas BaesCOO1.6K sh$12KSellJun 25Henderson Joseph Sean-walshChief Accounting Officer349 sh$3K
1–10 of 19
+ 9 other (5 awards · 4 exempts) in window

See when $BKKT insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
  • Cluster-buy detection when multiple insiders pile in at once
  • 30 / 60 / 180-day windows so you can spot building conviction
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SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

3New insider — initial holdingsAug 273
AI summary

Matthew A. White filed an initial Form 3 as the newly appointed Chief Financial Officer of Bakkt Holdings, with a Section 16 reporting obligation effective August 17, 2026. As of the reporting date, White held no shares of BKKT common stock directly or indirectly. This is a routine insider registration filing required within 10 days of becoming a Section 16 reporting person. The filing establishes the baseline for future Form 4 disclosures.

8-KOfficer or director changeAug 178-K — Item 5.02: Officer or director change · Item 7.01: Press release / Reg FD
AI summary

Bakkt, Inc. disclosed that CFO and principal financial officer Karen Alexander and the company mutually agreed that she would cease serving in those roles effective August 14, 2026. Her departure is explicitly stated as unrelated to any disagreement with management or the company's external auditor; no interim or permanent CFO successor is named. CFO turnover at Bakkt is notable given the company's ongoing restructuring and financial challenges; the absence of a named successor adds near-term uncertainty.

8-KShareholder voteJun 268-K — Item 5.07: Shareholder vote
AI summary

Bakkt Holdings held its 2026 Annual Meeting of Stockholders on June 23, 2026; Michael Alfred and Lyn Alden were elected as Class II directors; the advisory executive compensation vote passed; Grant Thornton was ratified as independent auditor. Lyn Alden is a widely-followed independent macro and Bitcoin analyst; her board seat signals Bakkt's continued focus on the crypto markets business.

S-3Shelf registrationMay 13S-3
AI summary

BKKT filed a S-3 shelf registration statement dated 2026-05-13. The shelf provides capacity to issue equity or debt as market conditions allow. No immediate capital raise is triggered; watch for prospectus supplements disclosing actual transactions.

SC 13D/AActivist amendmentMay 4SC 13D/A
AI summary

Akshay Sudhir Naheta filed an amended Schedule 13D on BKKT disclosing beneficial ownership (11,138,989.00 shares) as of 2026-05-04. The filer's stated intent is passive investment with no plan to influence control of the company.

SC 13D/AActivist amendmentMay 4SC 13D/A
AI summary

INTERCONTINENTAL EXCHANGE, INC. filed an amended Schedule 13D on BKKT disclosing beneficial ownership (8,380,362.00 shares) as of 2026-05-04. The filer's stated intent is passive investment with no plan to influence control of the company.

8-KAcquisition completedApr 308-K — Item 2.01: Acquisition completed · Item 3.02: Unregistered equity sale · Item 5.01: Change in control · Item 7.01: Press release / Reg FD
AI summary

BKKT filed an 8-K Item 7.01 (Reg FD) disclosure dated 2026-04-30. Reg FD disclosures make material information simultaneously available to all investors; content may include guidance updates, strategic plans, or preliminary results.

8-KShareholder voteApr 208-K — Item 5.07: Shareholder vote
AI summary

BKKT held its special meeting of stockholders around 2026-04-20 (8-K Item 5.07). The meeting was adjourned, likely due to insufficient quorum. Routine governance event — monitor for unusually high withhold votes as an activist signal.

+ 19 other (4 earnings 8-Ks · 4 proxys · 3 13Gs · 2 10-Qs) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

Bakkt Selects Thredd to Power Credit Card-as-a-Service Program Settling in Stablecoinsbusinesswire.com·4d agoBlockchAIn Digital Infrastructure Says Nebius Prepayment Funds $800M Data Center Buildmarketbeat.com·9d agoBakkt Stock Climbs Friday: What's Going On?benzinga.com·29d agoBakkt Expands Global Commercial Team as Growth Accelerates; Raises 2026 Total Transacting Volume Target to $3 Billionglobenewswire.com·38d agoBakkt Stock Jumps Friday: What's Going On?benzinga.com·57d ago

In themes

Explore the broader themes this ticker is being talked about under.

Crypto Equity PlaysStablecoins & Tokenization

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Voices on X · last 7 days

No standout posts about $BKKT on X in the last 7 days.

TickerTalks is a research tool, not financial advice. We surface social-attention data; we do not make stock recommendations. Past attention is not predictive of future price movements.

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