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

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

Katapult Stock Up 64.7 %

Shares of NASDAQ KPLT traded up $4.51 during trading on Thursday, hitting $11.49. The company had a trading volume of 739,822 shares, compared to its average volume of 26,409. The firm has a market capitalization of $50.45 million, a price-to-earnings ratio of -1.40 and a beta of 1.66. The stock has a fifty day simple moving average of $6.59 and a two-hundred day simple moving average of $10.77. Katapult has a fifty-two week low of $5.08 and a fifty-two week high of $23.54.

Katapult (NASDAQ:KPLT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.05) earnings per share for the quarter. The company had revenue of $60.31 million for the quarter. During the same period last year, the firm posted ($0.71) EPS. On average, analysts anticipate that Katapult will post -3.12 earnings per share for the current year.

Institutional Trading of Katapult

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in Katapult by 18.6% in the 2nd 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Katapult by 7.8% during the third 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. Finally, Iridian Asset Management LLC CT raised its position in shares of Katapult by 27.3% in the third quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock valued at $4,156,000 after buying an additional 85,742 shares during the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on KPLT shares. Cantor Fitzgerald raised Katapult to a “hold” rating in a report on Thursday, October 3rd. Stephens assumed coverage on Katapult in a research note on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 target price for the company.

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.