Investors Buy High Volume of Put Options on Katapult (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of some unusual options trading on Wednesday. Traders purchased 21,767 put options on the company. This represents an increase of 1,055% compared to the average daily volume of 1,884 put options.

Katapult Price Performance

Shares of NASDAQ:KPLT traded up $4.51 during trading on Thursday, hitting $11.49. 739,822 shares of the company were exchanged, compared to its average volume of 26,409. The firm’s 50 day moving average price is $6.59 and its 200-day moving average price is $10.77. Katapult has a 12-month low of $5.08 and a 12-month high of $23.54. The stock has a market capitalization of $50.45 million, a P/E ratio of -1.40 and a beta of 1.66.

Katapult (NASDAQ:KPLT) last posted its quarterly earnings data 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 earned ($0.71) earnings per share. As a group, equities research analysts anticipate that Katapult will post -3.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Cantor Fitzgerald upgraded Katapult to a “hold” rating in a research report on Thursday, October 3rd. Stephens initiated coverage on shares of Katapult in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 price objective on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KPLT. Geode Capital Management LLC boosted its stake 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 in the last quarter. Renaissance Technologies LLC lifted its holdings in Katapult by 18.6% in the second quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock valued at $353,000 after acquiring an additional 3,300 shares during the period. Finally, Iridian Asset Management LLC CT boosted its position in shares of 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 purchasing an additional 85,742 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

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.