Katapult Holdings, Inc. (NASDAQ:KPLT) Sees Significant Increase in Short Interest

Katapult Holdings, Inc. (NASDAQ:KPLT) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 90,600 shares, a growth of 8.0% from the July 15th total of 83,900 shares. Approximately 4.2% of the shares of the company are sold short. Based on an average daily volume of 29,700 shares, the short-interest ratio is currently 3.1 days.

Katapult Stock Down 11.5 %

NASDAQ:KPLT traded down $1.55 during trading hours on Friday, hitting $11.98. 36,841 shares of the stock traded hands, compared to its average volume of 22,350. The company has a market cap of $49.19 million, a price-to-earnings ratio of -1.74 and a beta of 1.76. Katapult has a 1 year low of $8.26 and a 1 year high of $23.54. The stock has a 50 day moving average price of $17.39 and a 200 day moving average price of $15.03.

Katapult (NASDAQ:KPLT) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.31) by ($0.30). The business had revenue of $58.86 million for the quarter.

Analysts Set New Price Targets

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

Institutional Trading of Katapult

An institutional investor recently raised its position in Katapult stock. Renaissance Technologies LLC raised its holdings in shares of Katapult Holdings, Inc. (NASDAQ:KPLT) by 18.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,000 shares of the company’s stock after purchasing an additional 3,300 shares during the period. Renaissance Technologies LLC owned 0.51% of Katapult worth $353,000 at the end of the most recent quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

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.