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

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of a large decrease in short interest in the month of 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. Based on an average daily volume of 29,700 shares, the days-to-cover ratio is presently 3.2 days. Currently, 4.1% of the company’s shares are short sold.

Katapult Stock Performance

Shares of Katapult stock traded down $0.15 on Monday, reaching $7.41. 4,968 shares of the company’s stock were exchanged, compared to its average volume of 24,643. The company has a market capitalization of $32.54 million, a P/E ratio of -0.90 and a beta of 1.72. Katapult has a 52 week low of $5.79 and a 52 week high of $23.54. The firm’s 50-day moving average is $8.44 and its two-hundred day moving average is $13.29.

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

Analysts Set New Price Targets

A number of research firms have weighed in on KPLT. Stephens began coverage on shares of Katapult in a research report on Wednesday, November 13th. They set an “equal weight” rating and a $9.00 target price for the company. Loop Capital decreased their target price on shares of Katapult from $20.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. Finally, Cantor Fitzgerald raised shares of Katapult to a “hold” rating in a research report on Thursday, October 3rd.

Hedge Funds Weigh In On Katapult

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of Katapult by 18.6% in the 2nd quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock worth $353,000 after purchasing an additional 3,300 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 acquiring an additional 2,825 shares in the last quarter. Finally, Iridian Asset Management LLC CT lifted 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 acquiring an additional 85,742 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors.

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.