Katapult Holdings, Inc. (NASDAQ:KPLT) Short Interest Down 7.6% in November

Katapult Holdings, Inc. (NASDAQ:KPLT) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 96,500 shares, a decrease of 7.6% from the October 31st total of 104,400 shares. Based on an average daily trading volume, of 29,700 shares, the days-to-cover ratio is currently 3.2 days. Approximately 4.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Katapult

Several institutional investors and hedge funds have recently made changes to their positions in the business. Iridian Asset Management LLC CT raised its stake in 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 during the last quarter. Renaissance Technologies LLC increased its position in shares of Katapult by 18.6% in the second quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock worth $353,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Katapult by 7.8% in the third 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 period. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Katapult Trading Down 2.8 %

Shares of NASDAQ KPLT opened at $7.37 on Wednesday. The firm has a 50-day moving average price of $8.39 and a 200 day moving average price of $13.22. Katapult has a 52 week low of $5.79 and a 52 week high of $23.54.

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

Analyst Upgrades and Downgrades

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

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.