Katapult Target of Unusually Large Options Trading (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) saw unusually large options trading on Wednesday. Stock investors bought 21,767 put options on the company. This represents an increase of 1,055% compared to the typical volume of 1,884 put options.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KPLT. Geode Capital Management LLC lifted its holdings 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. Renaissance Technologies LLC increased its position 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 purchasing an additional 3,300 shares in the last quarter. Finally, Iridian Asset Management LLC CT boosted its position in Katapult by 27.3% in the third quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock valued at $4,156,000 after buying an additional 85,742 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KPLT. Cantor Fitzgerald raised shares of Katapult to a “hold” rating in a report on Thursday, October 3rd. Stephens started coverage on shares of Katapult in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 target price for the company.

Katapult Trading Down 3.2 %

Shares of NASDAQ KPLT opened at $6.76 on Thursday. The firm has a market capitalization of $29.68 million, a price-to-earnings ratio of -0.82 and a beta of 1.67. Katapult has a one year low of $5.08 and a one year high of $23.54. The business has a fifty day simple moving average of $6.97 and a 200 day simple moving average of $11.52.

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 period in the previous year, the business posted ($0.71) earnings per share. On average, research analysts anticipate that Katapult will post -3.12 earnings per share for the current fiscal year.

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.