Traders Buy Large Volume of Put Options on Katapult (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 company. This represents an increase of approximately 1,055% compared to the average daily volume of 1,884 put options.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Katapult stock. Renaissance Technologies LLC increased its position in shares of Katapult Holdings, Inc. (NASDAQ:KPLT) by 18.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,000 shares of the company’s stock after buying an additional 3,300 shares during the period. 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 Price Performance

NASDAQ KPLT opened at $9.91 on Thursday. The business has a fifty day moving average price of $14.25 and a two-hundred day moving average price of $14.56. The stock has a market capitalization of $40.69 million, a PE ratio of -1.44 and a beta of 1.72. Katapult has a fifty-two week low of $8.26 and a fifty-two week 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 analysts’ consensus estimates of ($1.31) by ($0.30). The firm had revenue of $58.86 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Loop Capital dropped their price target on Katapult from $20.00 to $15.00 and set a “hold” rating on the stock in a research note 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.