Katapult (NASDAQ:KPLT) Shares Climb 3.4% – What’s Next?

Katapult Holdings, Inc. (NASDAQ:KPLT) rose 3.4% during mid-day trading on Friday. The stock traded as high as $8.13 and last traded at $7.84. Approximately 250,286 shares were traded during trading, a decline of 29% from the average session volume of 354,458 shares. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

A number of research firms have commented on KPLT. Weiss Ratings downgraded shares of Katapult from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Katapult to a “hold” rating in a research note on Saturday, September 26th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Katapult has an average rating of “Sell”.

Katapult Stock Up 3.4%

The stock has a market cap of $38.96 million, a PE ratio of 5.72 and a beta of 1.68. The stock has a 50-day moving average of $6.54 and a 200 day moving average of $6.69.

Katapult (NASDAQ:KPLT) last released 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). The company had revenue of $74.76 million for the quarter, compared to analyst estimates of $73.10 million. Katapult had a negative return on equity of 26.41% and a net margin of 3.60%.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Katapult stock. Iridian Asset Management LLC CT increased its position in shares of Katapult Holdings, Inc. (NASDAQ:KPLT) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 919,498 shares of the company’s stock after acquiring an additional 46,642 shares during the quarter. Katapult makes up about 1.4% of Iridian Asset Management LLC CT’s portfolio, making the stock its 20th biggest holding. Iridian Asset Management LLC CT owned approximately 18.50% of Katapult worth $4,018,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 26.81% of the company’s stock.

About Katapult

Katapult Holdings, Inc is a financial technology company that provides lease-to-own payment solutions for consumers who may not qualify for traditional prime-credit financing. Operating under the Katapult brand, the company enables customers to obtain products through structured lease agreements rather than conventional installment loans or credit-card transactions.

Katapult’s platform is integrated with participating retailers and e-commerce merchants, allowing consumers to apply for financing during the checkout process.