Katapult Holdings, Inc. (NASDAQ:KPLT) Sees Large Drop in Short Interest

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 96,500 shares, a drop of 7.6% from the October 31st total of 104,400 shares. Based on an average daily trading volume, of 29,700 shares, the days-to-cover ratio is presently 3.2 days. Currently, 4.1% of the company’s stock are sold short.

Katapult Stock Performance

KPLT stock opened at $7.37 on Wednesday. The firm’s 50-day moving average is $8.39 and its two-hundred day moving average is $13.22. Katapult has a 52 week low of $5.79 and a 52 week high of $23.54.

Katapult (NASDAQ:KPLT) last released its earnings results on Wednesday, November 6th. The company reported ($2.05) earnings per share for the quarter. The business had revenue of $60.31 million during the quarter. During the same period in the prior year, the business earned ($0.71) earnings per share.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Katapult to a “hold” rating in a report on Thursday, October 3rd. Stephens started coverage on Katapult in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 price target on the stock. Finally, Loop Capital reduced their price target on shares of Katapult from $20.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, August 15th.

Institutional Investors Weigh In On Katapult

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Katapult by 7.8% during the third quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock worth $408,000 after purchasing an additional 2,825 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Katapult by 18.6% during the 2nd quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock valued at $353,000 after buying an additional 3,300 shares during the last quarter. Finally, Iridian Asset Management LLC CT boosted its holdings in Katapult by 27.3% in the third quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock worth $4,156,000 after purchasing an additional 85,742 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors.

Katapult Company Profile

Katapult Holdings, Inc, an e-commerce focused financial technology company, provides e-commerce point-of-sale lease-purchase options for nonprime consumers in the United States. The company's technology platform provides nonprime consumers with a lease purchase option to enable them to obtain durable goods from its network of e-commerce retailers.