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

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

Katapult Trading Down 0.4%

Shares of KPLT stock opened at $8.45 on Thursday. Katapult has a 12 month low of $5.08 and a 12 month high of $21.88. The stock has a market cap of $38.36 million, a PE ratio of -1.21 and a beta of 1.75. The company’s fifty day moving average price is $8.13 and its 200-day moving average price is $8.67.

Katapult (NASDAQ:KPLT) last announced its earnings results on Thursday, May 15th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.51). The firm had revenue of $71.95 million for the quarter, compared to analysts’ expectations of $71.80 million. On average, sell-side analysts forecast that Katapult will post -3.09 earnings per share for the current fiscal year.

Institutional Trading of Katapult

Hedge funds have recently modified their holdings of the business. Northern Trust Corp raised its position in shares of Katapult by 52.5% in the 4th quarter. Northern Trust Corp now owns 20,201 shares of the company’s stock worth $137,000 after purchasing an additional 6,956 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Katapult by 61.6% in the 4th 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, Iridian Asset Management LLC CT raised its position in shares of Katapult by 31.7% in the 1st quarter. Iridian Asset Management LLC CT now owns 576,648 shares of the company’s stock worth $5,899,000 after purchasing an additional 138,648 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

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.