Stock Traders Purchase Large Volume of Katapult Put Options (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) saw unusually large options trading activity on Wednesday. Stock investors purchased 21,767 put options on the stock. This is an increase of approximately 1,055% compared to the average daily volume of 1,884 put options.

Katapult Stock Performance

NASDAQ:KPLT opened at $6.26 on Friday. Katapult has a 52-week low of $5.79 and a 52-week high of $23.54. The company has a market cap of $27.48 million, a P/E ratio of -0.76 and a beta of 1.72. The stock’s 50-day simple moving average is $8.99 and its 200 day simple moving average is $13.72.

Katapult (NASDAQ:KPLT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($2.05) EPS for the quarter. The firm had revenue of $60.31 million during the quarter. During the same period in the prior year, the firm posted ($0.71) earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Iridian Asset Management LLC CT grew its holdings 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 purchasing an additional 85,742 shares during the period. Geode Capital Management LLC lifted its position in shares of Katapult by 7.8% in 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 last quarter. Finally, Renaissance Technologies LLC boosted its stake 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 acquiring an additional 3,300 shares during the period. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KPLT shares. Stephens assumed coverage on Katapult in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 price objective for the company. Loop Capital decreased their price target on shares of Katapult from $20.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Finally, Cantor Fitzgerald upgraded shares of Katapult to a “hold” rating in a report 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.