Katapult (NASDAQ:KPLT) Upgraded to Hold at Wall Street Zen

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

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

Katapult Price Performance

Shares of NASDAQ KPLT opened at $5.04 on Friday. The firm has a fifty day moving average price of $7.09 and a 200-day moving average price of $6.89. The stock has a market cap of $25.05 million, a PE ratio of 3.68 and a beta of 1.55. Katapult has a 1 year low of $4.84 and a 1 year high of $17.49.

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

Institutional Investors Weigh In On Katapult

An institutional investor recently bought a new position in Katapult stock. OCO Capital Partners L.P. bought a new position in Katapult Holdings, Inc. (NASDAQ:KPLT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 50,000 shares of the company’s stock, valued at approximately $323,000. Katapult makes up about 0.1% of OCO Capital Partners L.P.’s holdings, making the stock its 5th biggest holding. OCO Capital Partners L.P. owned approximately 1.08% of Katapult at the end of the most recent reporting period. 26.81% of the stock is owned by institutional investors and hedge funds.

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.