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

Key Points

• Katapult Holdings, Inc. experienced a significant increase in options trading, with a 1,055% rise in put options to 21,767 on Wednesday.
• Hedge fund Northern Trust Corp boosted its stake in Katapult by 52.5%, now holding 20,201 shares valued at approximately $137,000.
• Despite posting a loss of ($1.23) earnings per share, Katapult's quarterly revenue reached $71.95 million, slightly above expectations.

Katapult Holdings, Inc. (NASDAQ:KPLT - Get Free Report) was the recipient of unusually large options trading on Wednesday. Investors acquired 21,767 put options on the company. Thisrepresentsanincreaseofapproximately1,055% compared to the average volume of 1,884 put options.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Katapult stock. Northern Trust Corp lifted its position in Katapult Holdings, Inc. (NASDAQ:KPLT - Free Report) by 52.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,201 shares of the company's stock after purchasing an additional 6,956 shares during the quarter. Northern Trust Corp owned about 0.46% of Katapult worth $137,000 at the end of the most recent quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Stephens set a $10.00 price objective on Katapult and gave the company an "equal weight" rating in a research note on Thursday.

Katapult Stock Performance

KPLT stock traded down $0.26 during midday trading on Monday, reaching $13.79. 4,050 shares of the company's stock traded hands, compared to its average volume of 46,252. The company has a 50-day moving average price of $10.15 and a two-hundred day moving average price of $9.63. Katapult has a 52 week low of $5.08 and a 52 week high of $15.47. The firm has a market capitalization of $62.61 million, a PE ratio of -1.96 and a beta of 1.75.

Katapult (NASDAQ:KPLT - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($1.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.50). The business had revenue of $71.89 million for the quarter, compared to analyst estimates of $70.45 million. As a group, analysts predict that Katapult will post -3.09 EPS for the current fiscal year.

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.