Traders Purchase High Volume of Put Options on Katapult (NASDAQ:KPLT)

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

Analyst Ratings Changes

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

Katapult Stock Up 4.4 %

Shares of Katapult stock opened at $6.39 on Friday. Katapult has a 52-week low of $5.79 and a 52-week high of $23.54. The company’s 50-day simple moving average is $7.52 and its 200-day simple moving average is $12.19. The firm has a market cap of $28.06 million, a price-to-earnings ratio of -0.77 and a beta of 1.67.

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

Institutional Investors Weigh In On Katapult

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings 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 in 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 worth $408,000 after buying an additional 2,825 shares during the period. Finally, Iridian Asset Management LLC CT grew its position in Katapult by 27.3% during 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 period. Institutional investors and hedge funds own 26.81% of the company’s stock.

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.