Katapult Holdings, Inc. (NASDAQ:KPLT) Sees Large Decrease in Short Interest

Katapult Holdings, Inc. (NASDAQ:KPLT) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 96,500 shares, a drop of 7.6% from the October 31st total of 104,400 shares. Based on an average daily trading volume, of 29,700 shares, the days-to-cover ratio is presently 3.2 days. Approximately 4.1% of the company’s stock are short sold.

Katapult Trading Up 0.3 %

Shares of KPLT opened at $7.58 on Tuesday. The firm has a market cap of $33.28 million, a PE ratio of -0.90 and a beta of 1.72. Katapult has a 12 month low of $5.79 and a 12 month high of $23.54. The stock has a fifty day moving average price of $8.44 and a 200-day moving average price of $13.29.

Katapult (NASDAQ:KPLT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($2.05) EPS for the quarter. The business had revenue of $60.31 million during the quarter. During the same period in the previous year, the firm earned ($0.71) earnings per share.

Analysts Set New Price Targets

KPLT has been the topic of a number of analyst reports. Loop Capital cut their price target on Katapult from $20.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. Stephens initiated coverage on shares of Katapult in a report on Wednesday, November 13th. They issued an “equal weight” rating and a $9.00 target price for the company. Finally, Cantor Fitzgerald upgraded shares of Katapult to a “hold” rating in a report on Thursday, October 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KPLT. Iridian Asset Management LLC CT grew its stake in Katapult by 27.3% during the 3rd 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 during the last quarter. Renaissance Technologies LLC boosted its position in Katapult by 18.6% in the second quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock valued at $353,000 after buying an additional 3,300 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Katapult by 7.8% in 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 period. Hedge funds and other institutional investors own 26.81% of the company’s 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.