Investors Buy High Volume of Katapult Put Options (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 21,767 put options on the stock. This is an increase of 1,055% compared to the typical volume of 1,884 put options.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KPLT. Stephens assumed coverage on shares of Katapult in a report on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 price target on the stock. Cantor Fitzgerald upgraded Katapult to a “hold” rating in a research note on Thursday, October 3rd.

Katapult Stock Down 1.1 %

Shares of NASDAQ KPLT opened at $6.12 on Thursday. The firm’s 50-day moving average price is $7.59 and its 200-day moving average price is $12.23. Katapult has a 52-week low of $5.79 and a 52-week high of $23.54. The company has a market cap of $26.87 million, a PE ratio of -0.74 and a beta of 1.67.

Katapult (NASDAQ:KPLT) last issued its earnings results on Wednesday, November 6th. The company reported ($2.05) earnings per share (EPS) for the quarter. The company had revenue of $60.31 million for the quarter. During the same period in the previous year, the company earned ($0.71) EPS. As a group, equities research analysts anticipate that Katapult will post -3.12 EPS for the current fiscal year.

Institutional Trading of Katapult

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of Katapult by 18.6% during the 2nd quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock worth $353,000 after acquiring an additional 3,300 shares during the last quarter. Geode Capital Management LLC raised its holdings in Katapult by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock worth $408,000 after purchasing an additional 2,825 shares during the period. Finally, Iridian Asset Management LLC CT lifted its position in 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 purchasing an additional 85,742 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

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.