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

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

Katapult Stock Performance

Katapult stock opened at $11.49 on Thursday. The stock has a 50-day simple moving average of $9.26 and a 200-day simple moving average of $8.83. The company has a market capitalization of $50.45 million, a P/E ratio of -1.39 and a beta of 1.64. Katapult has a fifty-two week low of $5.08 and a fifty-two week high of $23.54.

Institutional Investors Weigh In On Katapult

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Katapult by 7.8% during the third quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock worth $408,000 after buying an additional 2,825 shares during the last quarter. Northern Trust Corp increased 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 during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Katapult by 61.6% during 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 period. Finally, Iridian Asset Management LLC CT grew its position in Katapult by 9.5% in the 4th quarter. Iridian Asset Management LLC CT now owns 438,000 shares of the company’s stock valued at $2,963,000 after buying an additional 38,000 shares during the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Stephens initiated coverage on shares of Katapult in a report on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 price objective 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.