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

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 96,500 shares, a decrease of 7.6% from the October 31st total of 104,400 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily volume of 29,700 shares, the short-interest ratio is presently 3.2 days.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KPLT shares. Stephens began coverage on shares of Katapult in a report on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 price target on the stock. Cantor Fitzgerald upgraded Katapult to a “hold” rating in a research note on Thursday, October 3rd. Finally, Loop Capital dropped their price objective on Katapult from $20.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 15th.

Institutional Investors Weigh In On Katapult

Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in Katapult by 18.6% during the second quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock worth $353,000 after buying an additional 3,300 shares during the last quarter. Iridian Asset Management LLC CT boosted its position in shares of 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 acquiring an additional 85,742 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Katapult by 7.8% in the third quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock valued at $408,000 after purchasing an additional 2,825 shares during the period. 26.81% of the stock is currently owned by hedge funds and other institutional investors.

Katapult Stock Up 0.3 %

KPLT stock opened at $7.58 on Tuesday. Katapult has a 52 week low of $5.79 and a 52 week high of $23.54. The firm has a 50-day simple moving average of $8.44 and a 200-day simple moving average of $13.29. The stock has a market capitalization of $33.28 million, a P/E ratio of -0.90 and a beta of 1.72.

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

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.