Bakkt Holdings (BKKT) Cash Holdings Decline 18%, New $300M At-the-Market Equity Program Announced
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 20 2026
0mins
Source: seekingalpha
- Cash Holdings Decline: Bakkt Holdings estimates its cash and cash equivalents will drop to between $26M and $28M by December 31, 2025, down significantly from $64.4M as of September 30, 2025, indicating financial strain.
- New Equity Program: The company has filed to establish a new at-the-market equity program aimed at raising up to $300M through common stock sales, intended to enhance financial flexibility and accelerate its long-term growth strategy.
- Revenue and Costs Nearly Equal: Bakkt forecasts its Q4 digital asset revenue to be between $298M and $300M, while total costs related to digital assets, execution, clearing, and brokerage fees are projected at $297M to $299M, highlighting challenges in profitability as costs nearly match revenues.
- Market Expansion Plans: Bakkt aims to expand its Bakkt Agent initiative and Zaira's stablecoin payment platform while increasing investments in Japan and India, reflecting a strategic focus on capturing growth opportunities in high-potential markets.
Analyst Views on BKKT
Wall Street analysts forecast BKKT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BKKT is 39.00 USD with a low forecast of 39.00 USD and a high forecast of 39.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 13.860
Low
39.00
Averages
39.00
High
39.00
Current: 13.860
Low
39.00
Averages
39.00
High
39.00
About BKKT
Bakkt Intermediate Holdings, Inc., formerly Bakkt Holdings, Inc., provides solutions that enable institutional participation in the digital asset economy - spanning Bitcoin, tokenization, stablecoin payments, and artificial intelligence (AI)-driven finance. The Company operates primarily through Bakkt Crypto Solutions, LLC (Bakkt Crypto). Through Bakkt Crypto’s platform, customers can purchase approved crypto assets, store crypto assets in custodial wallets, liquidate their holdings, and transfer supported crypto assets between a custodial wallet maintained by Bakkt Crypto and external wallets in certain jurisdictions, if enabled by the client. Bakkt Crypto’s proprietary trading platform and relationships with liquidity providers provide access to a wide range of crypto assets and competitive pricing to its customers. Bakkt Crypto holds a New York State virtual currency license (BitLicense), and money transmitter licenses from all states throughout the United States.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
