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

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

Analysts Set New Price Targets

A number of equities analysts have commented on KPLT shares. Cantor Fitzgerald raised Katapult to a “hold” rating in a report on Thursday, October 3rd. Stephens began coverage on Katapult in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 price objective on the stock. Finally, Loop Capital cut their target price on Katapult from $20.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th.

Katapult Price Performance

Shares of Katapult stock opened at $6.01 on Thursday. The business has a 50 day moving average price of $9.07 and a 200 day moving average price of $13.77. The company has a market capitalization of $26.39 million, a P/E ratio of -0.73 and a beta of 1.72. Katapult has a 1 year low of $5.79 and a 1 year high of $23.54.

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 firm had revenue of $60.31 million for the quarter. During the same quarter in the previous year, the firm posted ($0.71) earnings per share.

Hedge Funds Weigh In On Katapult

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of Katapult by 18.6% during the second quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock valued at $353,000 after buying an additional 3,300 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Katapult by 7.8% during the third quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock valued at $408,000 after acquiring an additional 2,825 shares during the period. Finally, Iridian Asset Management LLC CT increased its stake in shares of Katapult by 27.3% during the third quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock valued at $4,156,000 after acquiring an additional 85,742 shares during the period. 26.81% of the stock is owned by hedge funds and other institutional investors.

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.