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

Katapult Holdings, Inc. (NASDAQ:KPLT) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 21,767 put options on the company. This is an increase of approximately 1,055% compared to the typical daily volume of 1,884 put options.

Katapult Stock Down 1.6%

Shares of KPLT stock opened at $6.27 on Thursday. Katapult has a 12-month low of $5.08 and a 12-month high of $24.34. The company has a market capitalization of $29.09 million, a PE ratio of -1.06 and a beta of 1.76. The firm has a 50 day moving average price of $8.82 and a two-hundred day moving average price of $11.47.

Katapult (NASDAQ:KPLT) last announced its earnings results on Wednesday, November 12th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.72). The firm had revenue of $74.04 million for the quarter, compared to the consensus estimate of $74.55 million. As a group, research analysts expect that Katapult will post -3.09 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Katapult in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $10.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KPLT. Vanguard Group Inc. raised its holdings in Katapult by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 131,054 shares of the company’s stock valued at $1,567,000 after buying an additional 7,586 shares during the last quarter. Two Sigma Investments LP acquired a new position in Katapult in the 3rd quarter valued at approximately $273,000. Virtu Financial LLC bought a new position in shares of Katapult during the third quarter valued at $121,000. CIBC Bancorp USA Inc. acquired a new position in shares of Katapult during the third quarter worth $699,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Katapult by 7.8% in the third quarter. CIBC Private Wealth Group LLC now owns 58,471 shares of the company’s stock worth $699,000 after purchasing an additional 4,249 shares during the last quarter. 26.81% of the stock is owned by institutional investors.

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.