Katapult (NASDAQ:KPLT) Shares Up 0.3% – Here’s Why

Katapult Holdings, Inc. (NASDAQ:KPLT)’s share price shot up 0.3% on Friday . The company traded as high as $6.60 and last traded at $6.32. 9,960 shares were traded during trading, a decline of 43% from the average session volume of 17,589 shares. The stock had previously closed at $6.30.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Katapult from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Katapult currently has an average rating of “Reduce” and an average price target of $10.00.

Katapult Trading Up 0.3%

The business’s 50-day simple moving average is $6.67 and its two-hundred day simple moving average is $6.61. The company has a market capitalization of $30.15 million, a PE ratio of 5.50 and a beta of 1.50.

Katapult (NASDAQ:KPLT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. The company had revenue of $79.02 million during the quarter, compared to analysts’ expectations of $82.00 million. Katapult had a net margin of 2.48% and a negative return on equity of 16.24%.

Hedge Funds Weigh In On Katapult

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cobalt Capital Management Inc. acquired a new stake in shares of Katapult in the 4th quarter valued at about $154,000. Bridgeway Capital Management LLC acquired a new stake in shares of Katapult in the 4th quarter valued at about $81,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Katapult in the 4th quarter valued at about $1,055,000. Jump Financial LLC acquired a new stake in shares of Katapult in the 4th quarter valued at about $70,000. Finally, OCO Capital Partners L.P. acquired a new stake in shares of Katapult in the 4th quarter valued at about $323,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

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.