Latest news with #ClearStreet
Yahoo
6 days ago
- Business
- Yahoo
BioNTech price target raised to $185 from $181 at Clear Street
Clear Street raised the firm's price target on BioNTech (BNTX) to $185 from $181 and keeps a Buy rating on the shares after updating the firm's model to a year-end 2026 valuation following the company reporting Q2 results this morning. The company remains on track to report Phase 2 dose optimization results from BNT327 studies in small cell lung cancer and triple negative breast cancer in the second half of 2025, notes the analyst, who calls the company's oncology pipeline 'underappreciated.' Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on BNTX: Disclaimer & DisclosureReport an Issue BioNTech SE Reports Strong Financial Results for Mid-2025 BioNTech Reports Q2 2025 Financials and Strategic Collaborations Options Volatility and Implied Earnings Moves Today, August 04, 2025 BioNTech reports Q2 EPS EUR (1.60) vs. EUR (3.36) last year BioNTech backs FY25 revenue view EUR 1.7B-EUR 2.2B Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
29-07-2025
- Business
- Associated Press
Bakkt Announces Pricing of $75 Million Public Offering
ALPHARETTA, Ga.--(BUSINESS WIRE)--Jul 28, 2025-- Bakkt Holdings, Inc. ('Bakkt' or the 'Company') (NYSE: BKKT) today announced the pricing of its previously announced underwritten public offering of 6,753,627 shares of Class A common stock and pre-funded warrants to purchase up to 746,373 shares of Class A common stock at a public offering price of $10.00 per share and public offering price of $9.9999 per pre-funded warrant, which represents the per share public offering price of each share of Class A common stock less the $0.0001 per share exercise price for each pre-funded warrant. The offering is expected to close on or around July 30, 2025, subject to customary closing conditions. The gross proceeds from the offering, before deducting underwriter discounts and commissions and other estimated offering expenses, are expected to be approximately $75 million. Bakkt intends to use the net proceeds from the offering to purchase Bitcoin and other digital assets in accordance with its investment policy, for working capital and for general corporate purposes. Bakkt has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of Class A common stock and/or pre-funded warrants at the public offering price, less underwriting discounts and commissions. Clear Street LLC and Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, are acting as joint book-running managers of the offering. The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-288361) declared effective by the Securities and Exchange Commission (the 'SEC') on July 3, 2025. A final prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission, together with an accompanying base prospectus. The securities may be offered only by means of a written prospectus forming a part of the effective registration statement. Copies of the final prospectus supplement relating to the offering, together with the accompanying base prospectus, may be obtained, when available, from the SEC's website at from Clear Street LLC, Attention: Syndicate, 4 World Trade Center 150 Greenwich St Floor 45 New York, NY 10007, or by email at [email protected] and from Cohen & Company Capital Markets, Attention: Prospectus Department, 3 Columbus Cir, New York, NY 10019, or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. Bakkt will not, and has been advised by the joint book-running managers that they and their affiliates will not, sell any of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Bakkt Founded in 2018, Bakkt builds solutions that enable our clients to grow with the crypto economy. Through institutional-grade trading and onramp capabilities, our clients leverage technology that's built for sustainable, long-term involvement in crypto. Bakkt is headquartered in Alpharetta, GA. For more information, visit: | @Bakkt | LinkedIn Bakkt-C Cautionary Note Regarding Forward-Looking Statements This release contains 'forward-looking statements' within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities and Exchange Act of 1934, as amended. Such statements include, but are not limited to, statements regarding the offering. Forward-looking statements can be identified by words such as 'will,' 'likely,' 'expect,' 'continue,' 'anticipate,' 'estimate,' 'believe,' 'intend,' 'plan,' 'projection,' 'outlook,' 'grow,' 'progress,' 'potential' or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Such forward-looking statements are based upon the current beliefs and expectations of the Company's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and beyond the Company's control. Actual results and the timing of events may differ materially from the results anticipated in such forward-looking statements as a result of the following factors, among others: the Company's ability to continue as a going concern; the Company's ability to grow and manage growth profitably; the possibility that the Company may be unable to obtain the applicable regulatory approvals to execute on the cooperation agreement with Distributed Technologies Research Global Ltd. ('DTR'); finalizing the proposed commercial agreement with DTR, including whether such agreement will be executed on terms favorable to the Company or if at all, or be completed on the expected timeline, and whether the Company will be able to successfully integrate its operations with those of DTR, including its infrastructure, and achieve the expected benefits therefrom; the regulatory environment for crypto currencies and digital stablecoin payments; changes in the Company's business strategy, including its adoption of its updated investment policy ('Investment Policy') as described in the Company's Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission (the 'SEC') on June 10, 2025 (the 'June 10, 2025 8-K'); the price of digital assets, including Bitcoin; risks associated with owning digital assets, including Bitcoin, including price volatility, limited liquidity and trading volumes, relative anonymity, potential widespread susceptibility to market abuse and manipulation, compliance and internal control failures at exchanges and other risks inherent in its entirely electronic, virtual, form and decentralized network; the fluctuation of the Company's operating results, including because the Company may be required to account for its digital assets at fair value; the Company's ability to time the price of its purchase of digital assets pursuant to its strategy; the impact of the market value of digital assets on the Company's ability to satisfy its financial obligations, including any debt financings; unrealized fair value gains on its digital asset holdings subjecting the Company to the corporate alternative minimum tax; legal, commercial, regulatory and technical uncertainty regarding digital assets and enhanced regulatory oversight of companies holding digital assets including the possibility that regulators reclassify any digital assets the Company holds, including Bitcoin, as a security causing the Company to be in violation of securities laws and be classified as an 'investment company' under the Investment Company Act of 1940; competition by other Bitcoin treasury companies and the availability of spot-traded products for Bitcoin; enhanced regulatory oversight as a result of the Company's Investment Policy; the possibility of experiencing greater fraud, security failures or operational problems on digital asset trading venues compared to trading venues for more established asset classes, and any malfunction, breakdown or abandonment of the underlying blockchain protocols, or other technological difficulties, may prevent access to or use of such digital assets; the concentration of the Company's expected digital asset holdings relative to non-digital assets; the inability to use the Company's digital asset holdings as a source of liquidity to the same extent as cash and cash equivalents, due to, for example, risks associated with digital assets and other risks inherent to its entirely electronic, virtual form and decentralized network; the Company or a third-party service provider experiencing a security breach or cyber-attack where unauthorized parties obtain access to its digital assets; the loss of access to or theft or data loss of the Company's digital assets, which could be unrecoverable due to the immutable nature of blockchain transactions; if the Company elects to hold its digital assets through a third-party custodian, the loss of direct control over its digital assets and dependence on the custodian's security practices and operational integrity which may lead to the loss of its digital assets as a result of the insolvency of the custodian, theft by employees or insiders of the custodian or if the custodian's security measures are comprised, including as a result of a cyber-attack; the Company not being subject to the legal and regulatory protections applicable to investment companies such as mutual funds and exchange-traded funds, or to obligations applicable to investment advisers; the non-performance, breach of contract or other violations by counterparties assisting the Company in effecting its Investment Policy; the Company's future capital requirements and sources and uses of cash, including funds to satisfy its liquidity needs and continued access to the line of credit with Intercontinental Exchange Holdings, Inc.; changes in the market in which the Company competes, including with respect to its competitive landscape, technology evolution or changes in applicable laws or regulations; changes in the markets that the Company targets; volatility and disruptions in the crypto, digital payments and stablecoin markets that subject the Company to additional risks, including the risk that banks may not provide banking services to the Company and market sentiments regarding crypto currencies, digital payments and stablecoins; the possibility that the Company may be adversely affected by other macroeconomic, geopolitical, business, and/or competitive factors; the Company's ability to launch new services and products, including with its expected commercial partners, or to profitably expand into new markets and services; the Company's ability to execute its growth strategies, including identifying and executing acquisitions and divestitures and the Company's initiatives to add new clients; the Company's ability to reach definitive agreements with its expected commercial counterparties; the Company's ability to successfully complete a strategic transaction of the Loyalty business; the Company's failure to comply with extensive government regulations, oversight, licensure and appraisals; uncertain and evolving regulatory regime governing blockchain technologies, stablecoins, digital payments and crypto; the Company's ability to establish and maintain effective internal controls and procedures; the exposure to any liability, protracted and costly litigation or reputational damage relating to the Company's data security; the impact of any goodwill or other intangible assets impairments on the Company's operating results; the Company's ability to maintain the listing of its securities on the New York Stock Exchange; and other risks and uncertainties indicated in the Company's filings with the SEC, including its most recent Annual Report on Form 10-K for the year ended December 31, 2024 and its most recent quarterly report on Form 10-Q for the quarter ended March 31, 2025, and the risks regarding the Company's adoption of its Investment Policy set forth in Exhibit 99.1 to the June 10, 2025 8-K. You are cautioned not to place undue reliance on such forward-looking statements. Such forward-looking statements relate only to events as of the date on which such statements are made and are based on information available to us as of the date of this release. View source version on CONTACT: Investor Relations [email protected] [email protected] KEYWORD: UNITED STATES NORTH AMERICA GEORGIA INDUSTRY KEYWORD: FINANCE CRYPTOCURRENCY BANKING PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES SOURCE: Bakkt Holdings, Inc. Copyright Business Wire 2025. PUB: 07/28/2025 09:35 PM/DISC: 07/28/2025 09:35 PM
Yahoo
22-07-2025
- Business
- Yahoo
Why BlackSky Technology Stock Is Plummeting Today
Key Points BlackSky is seeing a big pullback today after Clear Street and Canaccord published new coverage on the stock. Clear Street cuts its rating on the stock from buy to hold but increased its one-year price target from $20 per share to $24 per share. Canaccord kept a buy rating on the stock but lowered its price target from $28 per share to $27 per share. 10 stocks we like better than BlackSky Technology › BlackSky Technology (NYSE: BKSY) stock is getting hit with big sell-offs Tuesday following a couple of negative catalysts. The satellite technology company's share price was down 12% as of noon ET. At the same point in the daily session, the S&P 500 was down 0.2%, and the Nasdaq Composite was down 0.5%. In addition to some bearish momentum for the broader market today, BlackSky's valuation is being pressured by new analyst notes from Clear Street and Canaccord. Despite today's pullback, the defense-tech specialist's share price is still up roughly 80% across 2025's trading. Image source: Getty Images. BlackSky stock sinks following new analyst notes Before the market opened this morning, Clear Street published new coverage on BlackSky and lowered its rating on the stock from buy to hold. While the investment firm actually raised its one-year price target on the stock from $20 per share to $24 per share, its analysts raised concerns about the company's valuation and suggested that shares now offer limited upside. Shortly after the publication of Clear Street's note, Canaccord chimed in with its own coverage and kept a buy rating on the stock. On the other hand, Canaccord lowered its price target on the stock from $28 per share to $27 per share due to an unexpected sales decline in the preliminary second-quarter numbers published by the company. What's next for BlackSky? BlackSky is set to publish its second-quarter results and hold an investor conference call before the market opens on Aug. 7, but investors already have a pretty good idea of what to expect. The company submitted a filing to the Securities and Exchange Commission (SEC) on July 17 that included preliminary results for the company's second quarter. Revenue fell roughly 11% year over year to come in at $22.2 million, which was significantly below the roughly $27.9 million in sales called for by the average analyst estimate. The company saw a substantial decline in professional-and-engineering services revenue, which was partially attributable to the timing of completing longer-term contracts. Despite already having a pretty good idea of what the Q2 numbers will look like, the company's conference call should give investors an update on BlackSky's Gen-3 satellites and recent contract wins.
Bloomberg
21-07-2025
- Business
- Bloomberg
Clear Street Cuts Jobs in UK Unit Less Than a Year After Launch
Financial services firm Clear Street is cutting a small number of its London-based staff, less than a year after starting the UK business. The New York-based company announced the launch of Clear Street UK in December following approval from the Financial Conduct Authority, saying it was joining the London Metal Exchange.
Yahoo
20-07-2025
- Business
- Yahoo
AST SpaceMobile Gets $59 Bullish Nod on Direct-to-Phone Satellite Ambitions
AST SpaceMobile (NASDAQ:ASTS) is one of the best space stocks to buy according to hedge funds. On July 10, Clear Street began coverage on AST SpaceMobile (NASDAQ: ASTS) with a Buy rating and a $59 price target, setting it apart from the consensus range of $30–$64. Clear Street's bullish thesis hinges on AST's plan to start reliable commercial service by 2027, with a projected breakout year in 2028, forecasting $2.3 billion in revenue and $1.3 billion in adjusted EBITDA. Translating that, their $59 target equates to about 19× 2028 EBITDA or 11× revenue, based on a 10‑year discounted cash‑flow model. satellite-dish-941506_1280 This endorsement follows earlier support from Roth MKM (Buy) and stands in contrast to Bank of America's neutral stance. Clear Street also pointed to AST's strong financial footing; liquidity bolstered by a current ratio north of 10, and key strategic partnerships with Verizon, AT&T, Vodafone, and Rakuten. AST SpaceMobile is building the first space-based cellular broadband network that works directly with standard, unmodified smartphones. Unlike typical satellite internet, their tech beams signals straight into your handset, eliminating the need for special gear. Backed by major carriers, AST aims to connect underserved populations worldwide and go live commercially by 2027. While we acknowledge the potential of ASTS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
