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

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of unusually large options trading on Wednesday. Stock 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

NASDAQ:KPLT opened at $9.15 on Thursday. The stock has a fifty day moving average price of $7.54 and a 200 day moving average price of $9.59. Katapult has a 12-month low of $5.08 and a 12-month high of $23.54. The firm has a market cap of $40.17 million, a PE ratio of -1.11 and a beta of 1.72.

Institutional Investors Weigh In On Katapult

Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC increased its holdings 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 acquiring an additional 10,234 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Katapult by 7.8% during the 3rd 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. Finally, Iridian Asset Management LLC CT boosted its holdings in shares of Katapult by 27.3% in the 3rd quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock valued at $4,156,000 after buying an additional 85,742 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Stephens assumed coverage on shares of Katapult in a research note on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 price target on the stock.

Katapult Company Profile

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.