Investors Purchase Large Volume of Put Options on Katapult (NASDAQ:KPLT)

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

Katapult Stock Up 1.9%

Shares of NASDAQ KPLT opened at $6.94 on Thursday. The firm’s 50-day moving average price is $6.62 and its two-hundred day moving average price is $11.20. Katapult has a 52-week low of $5.50 and a 52-week high of $24.34. The stock has a market capitalization of $32.20 million, a P/E ratio of -1.17 and a beta of 1.75.

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

Hedge Funds Weigh In On Katapult

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Katapult in the 3rd quarter worth about $121,000. Two Sigma Investments LP bought a new position in Katapult in the 3rd quarter worth about $273,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Katapult in the third quarter valued at approximately $699,000. CIBC Private Wealth Group LLC increased 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 valued at $699,000 after purchasing an additional 4,249 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Katapult by 6.1% during the third 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. Institutional investors and hedge funds own 26.81% of the company’s stock.

Analysts Set New Price Targets

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

Katapult Company Profile

Katapult Holdings Inc is a New York–based fintech company that provides point-of-sale financing solutions designed to expand access to affordable consumer credit. The company’s platform enables retailers to offer lease-to-own and installment payment options to customers who may not qualify for traditional financing, using a data-driven credit decision engine and proprietary underwriting algorithms. Katapult’s digital approach streamlines the application process and automates account management, helping merchants boost conversion rates and average order values.

The company partners with a broad range of online and omnichannel retailers across categories such as furniture, electronics, outdoor equipment and consumer goods, integrating its financing options via APIs and plug-and-play modules.