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

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

Katapult Stock Performance

Shares of NASDAQ:KPLT opened at $6.39 on Friday. The business’s fifty day moving average price is $7.52 and its two-hundred day moving average price is $12.19. The stock has a market cap of $28.06 million, a PE ratio of -0.77 and a beta of 1.67. Katapult has a one year low of $5.79 and a one year high of $23.54.

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

Hedge Funds Weigh In On Katapult

Several institutional investors and hedge funds have recently modified their holdings of KPLT. Iridian Asset Management LLC CT boosted its holdings in shares of 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 last quarter. Renaissance Technologies LLC lifted its position in Katapult by 18.6% during the second quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock worth $353,000 after buying an additional 3,300 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Katapult by 7.8% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on KPLT. Cantor Fitzgerald raised Katapult to a “hold” rating in a research note on Thursday, October 3rd. 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 target price for the company.

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.