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

Katapult Holdings, Inc. (NASDAQ:KPLT) saw some unusual options trading activity on Wednesday. Stock traders purchased 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 1.9%

Shares of NASDAQ KPLT opened at $6.94 on Thursday. The stock has a market capitalization of $32.20 million, a PE ratio of -1.17 and a beta of 1.75. The firm has a fifty day moving average of $6.62 and a 200-day moving average of $11.20. Katapult has a 52-week low of $5.50 and a 52-week high of $24.34.

Katapult (NASDAQ:KPLT) last issued its 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 company had revenue of $74.04 million during the quarter, compared to analysts’ expectations of $74.55 million. Equities research analysts expect that Katapult will post -3.09 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KPLT. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 7,586 shares during the period. Two Sigma Investments LP purchased a new position in Katapult in the third quarter valued at about $273,000. Virtu Financial LLC acquired a new position in shares of Katapult during the third quarter worth about $121,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Katapult in the third quarter worth about $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 valued at $699,000 after buying an additional 4,249 shares in the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

About Katapult

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.