Shares of Katapult Holdings, Inc. (NASDAQ:KPLT – Get Free Report) were up 3.4% during trading on Friday. The company traded as high as $8.13 and last traded at $7.84. 250,286 shares changed hands during trading, a decline of 29% from the average session volume of 354,458 shares. The stock had previously closed at $7.58.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Weiss Ratings downgraded shares of Katapult from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Katapult to a “hold” rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has an average rating of “Sell”.
Get Our Latest Analysis on KPLT
Katapult Stock Up 3.4%
The business’s 50-day moving average is $6.54 and its two-hundred day moving average is $6.69. The company has a market capitalization of $38.98 million, a P/E ratio of 5.72 and a beta of 1.68.
Katapult (NASDAQ:KPLT – Get Free Report) last released its quarterly 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). Katapult had a negative return on equity of 26.41% and a net margin of 3.60%. The firm had revenue of $74.76 million for the quarter, compared to analysts’ expectations of $73.10 million.
Hedge Funds Weigh In On Katapult
An institutional investor recently raised its position in Katapult stock. Iridian Asset Management LLC CT increased its holdings in Katapult Holdings, Inc. (NASDAQ:KPLT – Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 919,498 shares of the company’s stock after acquiring an additional 46,642 shares during the period. Katapult comprises approximately 1.4% of Iridian Asset Management LLC CT’s portfolio, making the stock its 20th biggest holding. Iridian Asset Management LLC CT owned about 18.50% of Katapult worth $4,018,000 at the end of the most recent quarter. 26.81% of the stock is currently owned by institutional investors.
About Katapult
Katapult Holdings, Inc is a financial technology company that provides lease-to-own payment solutions for consumers who may not qualify for traditional prime-credit financing. Operating under the Katapult brand, the company enables customers to obtain products through structured lease agreements rather than conventional installment loans or credit-card transactions.
Katapult’s platform is integrated with participating retailers and e-commerce merchants, allowing consumers to apply for financing during the checkout process.
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