Katapult Sees Unusually Large Options Volume (NASDAQ:KPLT)

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Katapult by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock valued at $408,000 after purchasing an additional 2,825 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Katapult by 18.6% in the 2nd quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock valued at $353,000 after purchasing an additional 3,300 shares during the period. Finally, Iridian Asset Management LLC CT raised its stake in 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 buying an additional 85,742 shares during the period. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KPLT shares. Stephens started coverage on Katapult in a research 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 report on Thursday, October 3rd.

Katapult Stock Performance

Shares of KPLT opened at $6.98 on Thursday. The firm has a market capitalization of $30.65 million, a price-to-earnings ratio of -0.85 and a beta of 1.66. The business’s fifty day moving average price is $6.60 and its two-hundred day moving average price is $10.80. Katapult has a 52 week low of $5.08 and a 52 week high of $23.54.

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