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

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of some unusual options trading on Wednesday. Traders bought 21,767 put options on the stock. This is an increase of 1,055% compared to the average daily volume of 1,884 put options.

Katapult Price Performance

KPLT opened at $9.15 on Thursday. Katapult has a 1-year low of $5.08 and a 1-year high of $23.54. The stock has a market cap of $40.17 million, a P/E ratio of -1.11 and a beta of 1.72. The stock’s 50 day simple moving average is $7.54 and its 200 day simple moving average is $9.59.

Institutional Trading of Katapult

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake 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. CIBC Private Wealth Group LLC increased its holdings in Katapult by 61.6% during 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 in the last quarter. Finally, Iridian Asset Management LLC CT raised its position in Katapult by 9.5% during the fourth quarter. Iridian Asset Management LLC CT now owns 438,000 shares of the company’s stock worth $2,963,000 after acquiring an additional 38,000 shares during the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Analysts Set New Price Targets

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