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

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

Katapult Stock Down 2.6 %

Shares of NASDAQ KPLT opened at $11.49 on Thursday. Katapult has a 52-week low of $5.08 and a 52-week high of $23.54. The business’s 50 day moving average is $9.26 and its two-hundred day moving average is $8.83. The firm has a market cap of $50.45 million, a price-to-earnings ratio of -1.39 and a beta of 1.64.

Hedge Funds Weigh In On Katapult

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Katapult by 7.8% during 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 in the last quarter. Northern Trust Corp grew its stake in Katapult by 52.5% during the 4th quarter. Northern Trust Corp now owns 20,201 shares of the company’s stock worth $137,000 after purchasing an additional 6,956 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Katapult by 61.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 26,835 shares of the company’s stock worth $182,000 after purchasing an additional 10,234 shares during the period. Finally, Iridian Asset Management LLC CT raised its position in Katapult by 9.5% in the 4th quarter. Iridian Asset Management LLC CT now owns 438,000 shares of the company’s stock valued at $2,963,000 after purchasing an additional 38,000 shares in the last quarter. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Stephens began coverage on shares of Katapult in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 target price on the stock.

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.