Bakkt, Inc. Class A (BKKT)

Bakkt's stock price has experienced significant fluctuations in the past six months. In Q3 2025, Bakkt Holdings reported EPS of -$1.15, missing analysts' expectations by 130.00% on November 10, 2025. The company's stock has delivered a -19.03% change over the past year, with a 52-week range between $6.81 and $49.79. In January 2026, Bakkt Holdings stock sank 18% after the company disclosed declining cash holdings and announced a new at-the-market (ATM) equity program. The ATM program aims to raise up to $300M to increase financial flexibility and accelerate growth strategies.

Information regarding specific demand seasonality for Bakkt's current core digital asset infrastructure products is not explicitly detailed. Demand for digital asset services can be influenced by broader cryptocurrency market trends, which can exhibit cyclical patterns but are not strictly seasonal. The company's Q4 2024 record trading volume was driven by increased crypto adoption and improved market sentiment, suggesting a correlation with overall market activity rather than specific seasonal consumer behavior.

Bakkt, Inc. is a technology company focused on building next-generation financial infrastructure for the digital asset economy. It operates in the Technology sector, specifically in Software - Infrastructure and Fintech. Bakkt provides solutions for institutional participation in the digital asset economy, including Bitcoin, tokenization, stablecoin payments, and AI-driven finance. Its client base includes financial institutions, fintechs, and other businesses. Bakkt's products and services include Bakkt Markets, Bakkt Agent, and Bakkt Global. The company changed its name from Bakkt Holdings, Inc. in January 2026.

Bakkt, Inc. offers its services in the United States, Latin America, Europe, and Asia. In the United States, it has a 50-state licensing footprint and a New York BitLicense. The company is actively pursuing international expansion, focusing on markets like Japan, Korea, and India through its Bakkt Global initiative. Bakkt is headquartered in New York, New York.

In the past year, Bakkt has undergone a strategic realignment to become a pure-play digital asset infrastructure platform. This involved selling off its Loyalty business to streamline operations and focus on core pillars. Positive developments include achieving record notional trading volume in Q4 2024. However, the significant stock price drop in January 2026, triggered by declining cash holdings and the announcement of an ATM equity program, could negatively impact its brand reputation.

Bakkt, Inc. has a diverse ownership structure. Institutions hold 53.43% of the shares outstanding, while individual insiders hold 6.62%, and the public and other investors hold 39.95%. Major institutional owners include Intercontinental Exchange, Inc. (ICE), which holds a significant strategic stake of 31.02%, BlackRock, Inc., Weiss Asset Management LP, Vanguard Group Inc, Susquehanna International Group, Llp, Geode Capital Management, Llc, Marshall Wace, Llp, Jane Street Group, Llc, Horizon Kinetics Asset Management Llc, and Citadel Advisors Llc.