Katapult Target of Unusually Large Options Trading (NASDAQ:KPLT)

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

Katapult Stock Down 0.9 %

NASDAQ KPLT opened at $9.24 on Thursday. The company has a market cap of $40.56 million, a PE ratio of -1.12 and a beta of 1.66. Katapult has a 52 week low of $5.08 and a 52 week high of $23.54. The firm’s 50-day simple moving average is $7.10 and its two-hundred day simple moving average is $10.28.

Katapult (NASDAQ:KPLT) last announced its quarterly 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 for the quarter. During the same period in the prior year, the business earned ($0.71) EPS. As a group, equities research analysts anticipate that Katapult will post -3.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of Katapult by 18.6% during the second 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 during the period. Geode Capital Management LLC lifted 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 lifted 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. 26.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KPLT. Stephens began coverage on shares of Katapult in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 price target on the stock. Cantor Fitzgerald raised shares of Katapult to a “hold” rating in a report on Thursday, October 3rd.

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.