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

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 254,556 shares, a growth of 69.5% from the August 31st total of 150,196 shares. Approximately 5.6% of the company’s stock are sold short. Based on an average daily trading volume, of 159,327 shares, the short-interest ratio is presently 1.6 days.

Analyst Ratings Changes

Several brokerages recently weighed in on KPLT. Weiss Ratings downgraded shares of Katapult from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. Wall Street Zen raised Katapult to a “hold” rating in a research report on Saturday, September 26th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Katapult Price Performance

Katapult stock traded up $0.13 during mid-day trading on Thursday, reaching $4.50. 319,149 shares of the stock traded hands, compared to its average volume of 63,426. Katapult has a 12-month low of $4.21 and a 12-month high of $16.07. The business’s 50-day moving average is $6.92 and its 200-day moving average is $6.86. The stock has a market capitalization of $22.36 million, a PE ratio of 3.28 and a beta of 1.55.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Katapult stock. Cobalt Capital Management Inc. purchased a new position in shares of Katapult Holdings, Inc. (NASDAQ:KPLT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 23,860 shares of the company’s stock, valued at approximately $154,000. Katapult comprises approximately 0.1% of Cobalt Capital Management Inc.’s portfolio, making the stock its 28th biggest holding. Cobalt Capital Management Inc. owned approximately 0.51% of Katapult as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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.