Katapult (NASDAQ:KPLT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Katapult (NASDAQ:KPLT) to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings downgraded Katapult from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Katapult Price Performance

Shares of NASDAQ KPLT opened at $4.62 on Friday. Katapult has a 1 year low of $4.53 and a 1 year high of $17.44. The firm has a 50-day moving average of $7.04 and a 200 day moving average of $6.89. The stock has a market cap of $22.96 million, a P/E ratio of 3.37 and a beta of 1.55.

Katapult (NASDAQ:KPLT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.19). Katapult had a negative return on equity of 26.41% and a net margin of 3.60%.The business had revenue of $74.76 million during the quarter, compared to analysts’ expectations of $73.10 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Katapult stock. Cobalt Capital Management Inc. acquired a new stake in shares of Katapult Holdings, Inc. (NASDAQ:KPLT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,860 shares of the company’s stock, valued at approximately $154,000. Katapult accounts for about 0.1% of Cobalt Capital Management Inc.’s investment portfolio, making the stock its 28th largest holding. Cobalt Capital Management Inc. owned about 0.51% of Katapult at the end of the most recent reporting period. Institutional investors and hedge funds own 26.81% of the company’s stock.

Katapult Company Profile

Katapult Holdings, Inc is a financial technology company that provides lease-to-own payment solutions for consumers who may have limited access to traditional credit. Through its digital platform, the company allows shoppers to obtain merchandise and pay for it over time through lease-purchase agreements.

Katapult’s services are integrated with participating retail and e-commerce merchants, enabling customers to apply for financing at the point of sale. The platform supports purchases in categories such as consumer electronics, appliances, furniture, mattresses, tires and other household goods, subject to merchant participation and customer eligibility.

Founded in 2016, Katapult operates primarily in the United States and focuses on serving non-prime consumers through technology-enabled underwriting, payment processing and account-management tools.