Investors Purchase Large Volume of Put Options on Katapult (NASDAQ:KPLT)

Posted by Adam Masters on Aug 16th, 2024

Katapult Holdings, Inc. (NASDAQ:KPLT – Get Free Report) saw unusually large options trading activity on Wednesday. Stock 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.

Institutional Investors Weigh In On Katapult

A hedge fund recently raised its stake in Katapult stock. Renaissance Technologies LLC increased its stake in Katapult Holdings, Inc. (NASDAQ:KPLT – Free Report) by 18.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,000 shares of the company’s stock after purchasing an additional 3,300 shares during the quarter. Renaissance Technologies LLC owned about 0.51% of Katapult worth $353,000 at the end of the most recent quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Loop Capital lowered their target price on shares of Katapult from $20.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday.

Check Out Our Latest Stock Analysis on Katapult

Katapult Price Performance

KPLT opened at $13.53 on Friday. The company has a market capitalization of $55.55 million, a price-to-earnings ratio of -1.97 and a beta of 1.76. The firm’s fifty day moving average price is $17.48 and its two-hundred day moving average price is $14.97. Katapult has a 1 year low of $8.26 and a 1 year high of $23.54.

Katapult (NASDAQ:KPLT – Get Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.13) earnings per share for the quarter. The company had revenue of $65.06 million for the quarter.

About Katapult

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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.