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

Key Points

• Katapult Holdings, Inc. (NASDAQ:KPLT) experienced an unusual increase in options trading with 21,767 put options purchased, marking a rise of approximately 1,055% compared to its typical volume.
• Several institutional investors have significantly increased their positions in Katapult, including Northern Trust Corp (up 52.5%) and CIBC Private Wealth Group LLC (up 61.6%).
• Katapult reported a loss of ($1.23) earnings per share for the last quarter, missing analysts' estimates of ($0.72), and had revenue just above expectations at $71.95 million.

Katapult Holdings, Inc. (NASDAQ:KPLT - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock traders bought 21,767 put options on the stock. Thisisanincreaseof1,055% compared to the typical volume of 1,884 put options.

Katapult Trading Up 0.7%

Shares of KPLT traded up $0.08 during trading hours on Friday, hitting $11.85. The company had a trading volume of 2,396 shares, compared to its average volume of 23,880. The company has a market capitalization of $53.80 million, a PE ratio of -1.69 and a beta of 1.75. Katapult has a one year low of $5.08 and a one year high of $20.00. The company's fifty day moving average price is $9.36 and its two-hundred day moving average price is $9.34.

Katapult (NASDAQ:KPLT - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.51). The company had revenue of $71.95 million during the quarter, compared to the consensus estimate of $71.80 million. Analysts forecast that Katapult will post -3.09 earnings per share for the current year.

Institutional Trading of Katapult

Several large investors have recently added to or reduced their stakes in KPLT. Northern Trust Corp grew its stake in Katapult by 52.5% during the 4th quarter. Northern Trust Corp now owns 20,201 shares of the company's stock valued at $137,000 after purchasing an additional 6,956 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake 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 purchasing an additional 10,234 shares during the last quarter. Finally, Iridian Asset Management LLC CT grew its stake in Katapult by 31.7% during the 1st quarter. Iridian Asset Management LLC CT now owns 576,648 shares of the company's stock valued at $5,899,000 after purchasing an additional 138,648 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company's stock.

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.