Stock traders buy large volume of Katapult put options (NASDAQ: KPLT)

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Katapult Holdings, Inc. (NASDAQ:KPLT – Get Rating) was the beneficiary of unusually heavy options trading on Wednesday. Equity investors bought 21,767 put options on the stock. This represents a 1,055% increase from the typical volume of 1,884 put options.

Major investors have recently changed their stake in the company. BlackRock Inc. bought a new stake in Katapult in Q3 worth $4,600,000. Formula Growth Ltd. increased its holdings of Katapult shares by 83.4% during Q3. Formula Growth Ltd. now owns 716,167 shares of the company worth $3,889,000 after purchasing an additional 325,576 shares during the period. Cubist Systematic Strategies LLC increased its holdings of Katapult shares by 95.1% during Q3. Cubist Systematic Strategies LLC now owns 98,422 shares of the company worth $534,000 after purchasing an additional 47,964 shares during the period. Blueshift Asset Management LLC bought a new stock position in Katapult during Q3 worth $186,000. Finally, MYDA Advisors LLC bought a new position in shares of Katapult during Q3 worth $217,000. Institutional investors hold 47.80% of the company’s shares.

KPLT shares opened at $1.15 on Thursday. The company has a debt ratio of 2.62, a quick ratio of 9.23 and a current ratio of 9.23. Katapult has a 1-year minimum of $1.10 and a 1-year maximum of $14.98. The stock has a market capitalization of $112.53 million, a price-earnings ratio of -38.32 and a beta of 0.18. The stock has a 50-day moving average price of $1.89 and a 200-day moving average price of $2.61.

Katapult (NASDAQ:KPLT – Get Rating) last released its results on Tuesday, March 15. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $73.30 million in the quarter. Katapult had a net margin of 2.68% and a negative return on equity of 91.89%. On average, analysts predict Katapult will post -0.32 earnings per share for the current year.

KPLT has been the subject of several research reports. Zacks Investment Research upgraded Katapult from a “sell” rating to a “buy” rating and set a $1.50 price target for the company in a Wednesday, May 18 research report. Loop Capital upgraded Katapult from a “buy” rating to a “hold” rating and lowered its price target for the stock from $5.00 to $1.00 in a Wednesday, May 11 research report.

Katapult Company Profile (Get a rating)

Katapult Holdings, Inc, an e-commerce focused fintech company, provides lease-to-own e-commerce point-of-sale options for unprivileged consumers in the United States. The company’s technology platform offers unprivileged consumers a leasing purchase option to obtain durable goods from its network of e-commerce merchants.

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