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

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of unusually large options trading activity on Wednesday. Stock traders bought 21,767 put options on the company. This is an increase of approximately 1,055% compared to the typical volume of 1,884 put options.

Institutional Trading of Katapult

Several hedge funds have recently made changes to their positions in KPLT. Geode Capital Management LLC lifted its position in Katapult by 7.8% in the third quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock valued at $408,000 after buying an additional 2,825 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of 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 period. CIBC Private Wealth Group LLC increased 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 valued at $182,000 after purchasing an additional 10,234 shares during the last quarter. Finally, Northern Trust Corp raised its stake in 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 buying an additional 6,956 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Katapult Stock Down 0.3 %

KPLT opened at $7.56 on Thursday. The company has a 50-day moving average price of $10.17 and a 200 day moving average price of $8.60. The company has a market cap of $33.73 million, a PE ratio of -0.92 and a beta of 1.60. Katapult has a twelve month low of $5.08 and a twelve month high of $23.54.

Katapult (NASDAQ:KPLT) last announced its quarterly earnings data on Friday, March 28th. The company reported ($2.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($1.03). The company had revenue of $62.96 million for the quarter, compared to the consensus estimate of $62.35 million. As a group, sell-side analysts expect that Katapult will post -3.09 earnings per share for the current year.

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.