Traders Buy Large Volume of Put Options on Katapult (NASDAQ:KPLT)

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

Katapult Trading Down 3.2 %

NASDAQ KPLT opened at $6.76 on Thursday. The stock has a market cap of $29.68 million, a PE ratio of -0.82 and a beta of 1.67. Katapult has a twelve month low of $5.08 and a twelve month high of $23.54. The stock has a fifty day simple moving average of $6.97 and a 200-day simple moving average of $11.52.

Katapult (NASDAQ:KPLT) last announced 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 for the quarter. During the same quarter last year, the firm earned ($0.71) earnings per share. Research analysts predict that Katapult will post -3.12 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on KPLT. Cantor Fitzgerald raised shares of Katapult to a “hold” rating in a report on Thursday, October 3rd. Stephens assumed coverage on shares of Katapult in a report on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 price target for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Katapult by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock worth $408,000 after acquiring an additional 2,825 shares in the last quarter. Iridian Asset Management LLC CT increased its stake in Katapult by 27.3% during 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 during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Katapult by 18.6% during the second quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock worth $353,000 after purchasing an additional 3,300 shares in the last quarter. 26.81% of the stock is currently owned by hedge funds and other 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.