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

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

Institutional Investors Weigh In On Katapult

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake 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. Geode Capital Management LLC grew its position 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 worth $408,000 after buying an additional 2,825 shares in the last quarter. Finally, Iridian Asset Management LLC CT increased its stake in shares of Katapult by 27.3% in the third quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock worth $4,156,000 after buying an additional 85,742 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Katapult Stock Performance

Shares of NASDAQ KPLT opened at $6.12 on Thursday. Katapult has a one year low of $5.79 and a one year high of $23.54. The firm has a market capitalization of $26.87 million, a P/E ratio of -0.74 and a beta of 1.67. The company’s fifty day moving average is $7.59 and its two-hundred day moving average is $12.23.

Katapult (NASDAQ:KPLT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.05) earnings per share for the quarter. The firm had revenue of $60.31 million for the quarter. During the same period last year, the firm earned ($0.71) earnings per share. On average, sell-side analysts forecast that Katapult will post -3.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KPLT shares. Stephens initiated coverage on shares of Katapult in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 price objective for the company. Cantor Fitzgerald upgraded shares of Katapult to a “hold” rating in a research note on Thursday, October 3rd.

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.