Katapult Sees Unusually High Options Volume (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) saw unusually large options trading on Wednesday. Investors acquired 21,767 put options on the company. This represents an increase of approximately 1,055% compared to the typical daily volume of 1,884 put options.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KPLT. Renaissance Technologies LLC grew its position 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 acquiring an additional 3,300 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of Katapult by 27.3% in the 3rd quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock valued at $4,156,000 after purchasing an additional 85,742 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Katapult by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock valued at $408,000 after purchasing an additional 2,825 shares during the last quarter. 26.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KPLT. Loop Capital reduced their target price on shares of Katapult from $20.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. Stephens initiated coverage on shares of Katapult in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 price objective for the company. Finally, Cantor Fitzgerald upgraded shares of Katapult to a “hold” rating in a research report on Thursday, October 3rd.

Katapult Stock Performance

NASDAQ:KPLT opened at $6.26 on Friday. The company has a market cap of $27.48 million, a price-to-earnings ratio of -0.76 and a beta of 1.72. Katapult has a fifty-two week low of $5.79 and a fifty-two week high of $23.54. The stock has a fifty day moving average price of $8.99 and a 200-day moving average price of $13.72.

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

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.