Katapult Holdings, Inc. (NASDAQ:KPLT) Short Interest Down 15.0% in October

Katapult Holdings, Inc. (NASDAQ:KPLT) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 102,600 shares, a drop of 15.0% from the September 30th total of 120,700 shares. Based on an average trading volume of 31,800 shares, the days-to-cover ratio is currently 3.2 days. Currently, 4.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Katapult stock. Iridian Asset Management LLC CT lifted its holdings in shares of Katapult Holdings, Inc. (NASDAQ:KPLT) by 27.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 400,000 shares of the company’s stock after purchasing an additional 85,742 shares during the period. Iridian Asset Management LLC CT owned about 9.74% of Katapult worth $4,156,000 as of its most recent filing with the SEC. Institutional investors own 26.81% of the company’s stock.

Katapult Stock Up 1.7 %

KPLT opened at $8.55 on Thursday. The business’s fifty day simple moving average is $10.40 and its 200 day simple moving average is $14.13. Katapult has a 52 week low of $8.26 and a 52 week high of $23.54. The stock has a market cap of $35.62 million, a PE ratio of -1.24 and a beta of 1.70.

Katapult (NASDAQ:KPLT) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($1.31) by ($0.30). The firm had revenue of $58.86 million during the quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KPLT. Loop Capital decreased their price objective on shares of Katapult from $20.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Cantor Fitzgerald raised shares of Katapult to a “hold” rating in a research note on Thursday, October 3rd.

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.