Katapult Target of Unusually High Options Trading (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of unusually large options trading on Wednesday. Investors acquired 21,767 put options on the stock. This represents an increase of 1,055% compared to the average daily volume of 1,884 put options.

Institutional Trading of Katapult

Hedge funds have recently bought and sold shares of the business. Iridian Asset Management LLC CT increased its position in shares of Katapult by 9.5% during the fourth quarter. Iridian Asset Management LLC CT now owns 438,000 shares of the company’s stock worth $2,963,000 after acquiring an additional 38,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in Katapult by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock worth $408,000 after purchasing an additional 2,825 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Katapult by 61.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 26,835 shares of the company’s stock worth $182,000 after purchasing an additional 10,234 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Katapult by 52.5% in the fourth quarter. Northern Trust Corp now owns 20,201 shares of the company’s stock valued at $137,000 after purchasing an additional 6,956 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Katapult Trading Up 0.9 %

KPLT stock traded up $0.11 during trading on Thursday, reaching $11.60. 2,800 shares of the stock were exchanged, compared to its average volume of 37,599. The firm’s 50 day moving average is $9.26 and its 200 day moving average is $8.83. The firm has a market cap of $50.91 million, a P/E ratio of -1.41 and a beta of 1.64. Katapult has a twelve month low of $5.08 and a twelve month high of $23.54.

Analyst Ratings Changes

Separately, Stephens started coverage on Katapult in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 target price on the stock.

About Katapult

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.