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

Katapult Holdings, Inc. (NASDAQ:KPLT) was the recipient of some unusual options trading activity on Wednesday. Investors bought 21,767 put options on the stock. This is an increase of 1,055% compared to the average daily volume of 1,884 put options.

Hedge Funds Weigh In On Katapult

A hedge fund recently raised its stake in Katapult stock. Renaissance Technologies LLC increased its holdings in Katapult Holdings, Inc. (NASDAQ:KPLT) by 18.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,000 shares of the company’s stock after purchasing an additional 3,300 shares during the quarter. Renaissance Technologies LLC owned 0.51% of Katapult worth $353,000 at the end of the most recent reporting period. Institutional investors own 26.81% of the company’s stock.

Katapult Stock Performance

NASDAQ:KPLT opened at $7.46 on Thursday. The firm’s fifty day moving average is $10.10 and its two-hundred day moving average is $14.16. The firm has a market cap of $31.11 million, a price-to-earnings ratio of -1.08 and a beta of 1.72. Katapult has a one year low of $7.06 and a one year high of $23.54.

Katapult (NASDAQ:KPLT) last posted its earnings results on Wednesday, August 14th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($1.31) by ($0.30). The company had revenue of $58.86 million during the quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KPLT shares. Cantor Fitzgerald upgraded shares of Katapult to a “hold” rating in a research note on Thursday, October 3rd. Loop Capital cut their price objective on Katapult from $20.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 15th.

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.