Katapult Target of Unusually High Options Trading (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 21,767 put options on the company. This is an increase of approximately 1,055% compared to the typical daily volume of 1,884 put options.

Analyst Upgrades and Downgrades

Several brokerages have commented on KPLT. Cantor Fitzgerald upgraded shares of Katapult to a “hold” rating in a report on Thursday, October 3rd. Stephens assumed coverage on shares of Katapult in a research note on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KPLT. Geode Capital Management LLC boosted its holdings in 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 buying an additional 2,825 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Katapult by 18.6% in the second quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock valued at $353,000 after purchasing an additional 3,300 shares during the period. Finally, Iridian Asset Management LLC CT increased its position in shares of Katapult by 27.3% in the third quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock valued at $4,156,000 after buying an additional 85,742 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Katapult Price Performance

NASDAQ:KPLT opened at $6.12 on Thursday. The firm has a market capitalization of $26.87 million, a price-to-earnings ratio of -0.74 and a beta of 1.67. The business has a 50 day simple moving average of $7.59 and a 200-day simple moving average of $12.23. Katapult has a 1 year low of $5.79 and a 1 year high of $23.54.

Katapult (NASDAQ:KPLT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($2.05) earnings per share for the quarter. The firm had revenue of $60.31 million for the quarter. During the same quarter in the prior year, the firm earned ($0.71) earnings per share. As a group, analysts expect that Katapult will post -3.12 earnings per share for the current fiscal year.

About Katapult

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.