Short Interest in Katapult Holdings, Inc. (NASDAQ:KPLT) Increases By 340.6%

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 726,081 shares, a growth of 340.6% from the November 30th total of 164,779 shares. Approximately 18.4% of the company’s shares are short sold. Based on an average daily volume of 1,854,660 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 1,854,660 shares, the short-interest ratio is currently 0.4 days. Approximately 18.4% of the company’s shares are short sold.

Hedge Funds Weigh In On Katapult

Several institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its holdings in shares of Katapult by 7.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 58,471 shares of the company’s stock valued at $699,000 after buying an additional 4,249 shares during the period. Vanguard Group Inc. grew its position in Katapult by 6.1% during the third quarter. Vanguard Group Inc. now owns 131,054 shares of the company’s stock valued at $1,567,000 after buying an additional 7,586 shares during the period. Virtu Financial LLC acquired a new position in shares of Katapult in the third quarter worth about $121,000. Two Sigma Investments LP purchased a new stake in shares of Katapult during the 3rd quarter worth about $273,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Katapult in the 3rd quarter valued at about $699,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Katapult Price Performance

KPLT opened at $6.45 on Thursday. The business has a fifty day moving average of $8.11 and a 200 day moving average of $11.38. The stock has a market cap of $29.93 million, a P/E ratio of -1.09 and a beta of 1.76. Katapult has a 52-week low of $5.08 and a 52-week high of $24.34.

Katapult (NASDAQ:KPLT) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.72). The firm had revenue of $74.04 million for the quarter, compared to analysts’ expectations of $74.55 million. Equities analysts anticipate that Katapult will post -3.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Katapult in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $10.00.

About Katapult

Katapult Holdings Inc is a New York–based fintech company that provides point-of-sale financing solutions designed to expand access to affordable consumer credit. The company’s platform enables retailers to offer lease-to-own and installment payment options to customers who may not qualify for traditional financing, using a data-driven credit decision engine and proprietary underwriting algorithms. Katapult’s digital approach streamlines the application process and automates account management, helping merchants boost conversion rates and average order values.

The company partners with a broad range of online and omnichannel retailers across categories such as furniture, electronics, outdoor equipment and consumer goods, integrating its financing options via APIs and plug-and-play modules.