Wall Street Zen Upgrades Katapult (NASDAQ:KPLT) to “Hold”

Katapult (NASDAQ:KPLT) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of Katapult from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Katapult Price Performance

Shares of Katapult stock opened at $5.04 on Friday. The firm has a market cap of $25.05 million, a price-to-earnings ratio of 3.68 and a beta of 1.55. The business has a fifty day simple moving average of $7.09 and a 200-day simple moving average of $6.90. Katapult has a fifty-two week low of $4.84 and a fifty-two week high of $17.49.

Katapult (NASDAQ:KPLT) last announced its earnings results on Tuesday, August 4th. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.19). The firm had revenue of $74.76 million for the quarter, compared to the consensus estimate of $73.10 million. Katapult had a net margin of 3.60% and a negative return on equity of 26.41%.

Institutional Investors Weigh In On Katapult

An institutional investor recently bought a new position in Katapult stock. Cobalt Capital Management Inc. acquired a new position in Katapult Holdings, Inc. (NASDAQ:KPLT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,860 shares of the company’s stock, valued at approximately $154,000. Katapult makes up approximately 0.1% of Cobalt Capital Management Inc.’s investment portfolio, making the stock its 28th largest position. Cobalt Capital Management Inc. owned approximately 0.51% of Katapult at the end of the most recent reporting period. Institutional investors own 26.81% of the company’s stock.

About Katapult

Katapult Holdings, Inc is a financial technology company that provides lease-to-own payment solutions for consumers who may have limited access to traditional credit. Through its digital platform, the company allows shoppers to obtain merchandise and pay for it over time through lease-purchase agreements.

Katapult’s services are integrated with participating retail and e-commerce merchants, enabling customers to apply for financing at the point of sale. The platform supports purchases in categories such as consumer electronics, appliances, furniture, mattresses, tires and other household goods, subject to merchant participation and customer eligibility.

Founded in 2016, Katapult operates primarily in the United States and focuses on serving non-prime consumers through technology-enabled underwriting, payment processing and account-management tools.