Katapult Sees Unusually Large Options Volume (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 21,767 put options on the stock. This represents an increase of 1,055% compared to the typical daily volume of 1,884 put options.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Iridian Asset Management LLC CT boosted its stake in shares of Katapult by 27.3% during the 3rd quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock worth $4,156,000 after purchasing an additional 85,742 shares during the period. Geode Capital Management LLC lifted its stake in Katapult by 7.8% in the third 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 last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Katapult by 61.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 26,835 shares of the company’s stock valued at $182,000 after buying an additional 10,234 shares during the period. Institutional investors own 26.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens started coverage on shares of Katapult in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 price target for the company.

Katapult Stock Performance

NASDAQ KPLT opened at $9.24 on Friday. The business’s 50 day moving average price is $7.59 and its 200-day moving average price is $9.59. Katapult has a fifty-two week low of $5.08 and a fifty-two week high of $23.54. The company has a market cap of $40.56 million, a P/E ratio of -1.12 and a beta of 1.72.

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.