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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KPLT. Iridian Asset Management LLC CT grew its position in shares of Katapult by 27.3% in the third quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock valued at $4,156,000 after purchasing an additional 85,742 shares in the last quarter. CIBC Private Wealth Group LLC lifted 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 worth $182,000 after purchasing an additional 10,234 shares in the last quarter. Northern Trust Corp boosted its stake in Katapult by 52.5% in the 4th quarter. Northern Trust Corp now owns 20,201 shares of the company’s stock worth $137,000 after purchasing an additional 6,956 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Katapult by 7.8% during the 3rd 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 in the last quarter. 26.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Katapult Stock Up 5.9 %

KPLT opened at $10.78 on Friday. The firm has a 50-day moving average price of $8.33 and a 200-day moving average price of $8.97. Katapult has a twelve month low of $5.08 and a twelve month high of $23.54. The company has a market capitalization of $47.33 million, a price-to-earnings ratio of -1.31 and a beta of 1.72.

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.