Katapult Holdings, Inc. (NASDAQ:KPLT) Short Interest Update

Katapult Holdings, Inc. (NASDAQ:KPLT) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 254,556 shares, a growth of 69.5% from the August 31st total of 150,196 shares. Approximately 5.6% of the shares of the stock are short sold. Based on an average daily volume of 159,327 shares, the days-to-cover ratio is currently 1.6 days.

Katapult Trading Down 2.5%

NASDAQ:KPLT traded down $0.12 during trading hours on Wednesday, hitting $4.42. 48,818 shares of the stock were exchanged, compared to its average volume of 61,030. The firm’s fifty day moving average price is $6.99 and its 200 day moving average price is $6.88. Katapult has a 52-week low of $4.30 and a 52-week high of $16.07. The company has a market cap of $22.00 million, a P/E ratio of 3.23 and a beta of 1.55.

Katapult (NASDAQ:KPLT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($1.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.19). Katapult had a negative return on equity of 26.41% and a net margin of 3.60%.The firm had revenue of $74.76 million during the quarter, compared to analyst estimates of $73.10 million.

Institutional Investors Weigh In On Katapult

A hedge fund recently bought a new position in Katapult stock. Cobalt Capital Management Inc. purchased a new position in Katapult Holdings, Inc. (NASDAQ:KPLT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,860 shares of the company’s stock, valued at approximately $154,000. Katapult makes up about 0.1% of Cobalt Capital Management Inc.’s holdings, making the stock its 28th largest position. Cobalt Capital Management Inc. owned approximately 0.51% of Katapult as of its most recent filing with the Securities and Exchange Commission (SEC). 26.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KPLT has been the subject of a number of recent analyst reports. Weiss Ratings cut Katapult from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Katapult to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

About Katapult

Katapult Holdings, Inc is a financial technology company that provides lease-to-own payment solutions for consumers who may have limited access to traditional credit. Through its digital platform, the company allows shoppers to obtain merchandise and pay for it over time through lease-purchase agreements.

Katapult’s services are integrated with participating retail and e-commerce merchants, enabling customers to apply for financing at the point of sale. The platform supports purchases in categories such as consumer electronics, appliances, furniture, mattresses, tires and other household goods, subject to merchant participation and customer eligibility.

Founded in 2016, Katapult operates primarily in the United States and focuses on serving non-prime consumers through technology-enabled underwriting, payment processing and account-management tools.