Investors Purchase Large Volume of Put Options on Katapult (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) saw unusually large options trading activity on Wednesday. Traders acquired 21,767 put options on the company. This represents an increase of approximately 1,055% compared to the average volume of 1,884 put options.

Wall Street Analysts Forecast Growth

Separately, Stephens initiated coverage on Katapult in a report on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 price objective for the company.

Katapult Price Performance

NASDAQ KPLT opened at $10.78 on Friday. The company has a fifty day moving average price of $8.33 and a 200-day moving average price of $8.97. Katapult has a 1 year low of $5.08 and a 1 year high of $23.54. The firm has a market cap of $47.33 million, a price-to-earnings ratio of -1.31 and a beta of 1.72.

Institutional Investors Weigh In On Katapult

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in Katapult by 52.5% in the fourth quarter. Northern Trust Corp now owns 20,201 shares of the company’s stock worth $137,000 after purchasing an additional 6,956 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Katapult by 61.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 26,835 shares of the company’s stock worth $182,000 after buying an additional 10,234 shares during the last quarter. Geode Capital Management LLC grew its position in 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 buying an additional 2,825 shares during the period. Finally, Iridian Asset Management LLC CT grew its position in Katapult by 9.5% during the fourth quarter. Iridian Asset Management LLC CT now owns 438,000 shares of the company’s stock valued at $2,963,000 after buying an additional 38,000 shares during the period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

About Katapult

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.